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WAEC Commerce 1997 Question 63

Question 63

Business Finance

The intangible benefits arising from the business connections and reputation of a firm is called

  1. A.interest
  2. B.goodwill
  3. C.commission
  4. D.bonus
  5. E.dividend
Show the answer and explanation

Answer: B (goodwill)

Explanation

Goodwill is the value of a firm's reputation and customer connections.