Match each of the numbered definitions with the correct term in the following list Write the letter of your choice in the answer column a Goodwill b Trade name c Trade secret d Brand name e Trademark 1 Specialized knowledge associated with a particular business 1 2 The name and good reputation of a...

Match each of the numbered definitions with the correct term in the following list. Write the letter

Question:

Match each of the numbered definitions with the correct term in the following list. Write the letter of your choice in the answer column.
a.
b. Trade name
c. Trade secret
d. Brand name
e. Trademark
1. Specialized knowledge associated with a particular business. 1. _________
2. The name and good reputation of a firm. 2. _________
3. A word, name, symbol, device, or combination thereof adopted and used by a manufacturer or merchant to identify his or her goods and distinguish them from goods manufactured or sold by others. 3. _________
4. The name under which a firm does its business. 4. _________
5. The registered name for a product. 5. _________
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...