Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 9 - Reporting and Analyzing Long-Lived Assets - Questions: 19

Answer

Goodwill can be identified only with the business as a whole. It cannot be divided and sold a part of it.

Work Step by Step

Therefore, Jane should respond to Lenny that Goodwill is an intangible asset which cannot be seen or touched like plant asset / machinery. Therefore this cannot be sold in parts.
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