In accounting, goodwill refers to the: extent to which a firm\'s accounting meth

Question

In accounting, goodwill refers to the:

extent to which a firm's accounting methods are consistent with generally accepted principles

bonus payment to executives whose performance have been exemplary

value of a brand name or trademark

payment in excess of book value for a firm that is acquired

Singapore is a major supplier of:

financial services

textiles

domestic workers

Coffee

An important issue in international accounting is the capitalization of:

dividends

real estate

bad debt

financial leases

A characteristic of culture is that it is:

adaptive

private

inherited

instinctual

Explanation / Answer

1. It is called goodwill when a buyer acquires an existing business at a higher value. The goodwill value amounts to the excess over the total value of assets and liabilities. Hence d, payment in excess of book value of a firm is the answer

2. Singapore is the hub of financial services in world

3. Only assets can be capitalized and hence its only real estate that can be capitalized. the rest options are liabilities

4. Cultures are inherited from old members by new members

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