Question: 16. Goodwill can be recorded a. when customers keep returning because they are satisfied with the company's products. b. when the company acquires a good

16. Goodwill can be recorded a. when customers keep returning because they are satisfied with the company's products. b. when the company acquires a good location for its business. c. when the company has exceptional management. d. only when a company purchases another existing business. Which of the following is not true of ordinary repairs? a. They primarily benefit the current accounting period. b. They can be referred to as an expense c. They maintain the expected productive life of the asset. d. They increase the productive capacity of the asset 17

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