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WAEC Commerce 2013 Question 46

Question 46

Business Finance

A term which describes the value of business connections made by a company over the years is known as

  1. A.patent.
  2. B.copyright.
  3. C.goodwill.
  4. D.trade mark.
Show the answer and explanation

Answer: C (goodwill.)

Explanation

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