Question: You note that a certain store seems to have a steady stream of regular customers, a favorable location, courteous employees, high-quality merchandise, and a reputation

You note that a certain store seems to have a steady stream of regular customers, a favorable location, courteous employees, high-quality merchandise, and a reputation for fairness in dealing with customers, employees, and suppliers. Does it follow automatically that this business should have goodwill recorded as an asset? Explain.

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