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tia_tia [17]
3 years ago
6

Kentucky fried chicken, better known as kfc, holds one of the most desired recipes in the world for their signature, 11-spice bl

end used in their fried chicken. in fact, it is so valuable, the recipe is kept in a vault and only two people in the world know the full contents of the recipe. the kfc fried chicken recipe is an example of
Business
1 answer:
zvonat [6]3 years ago
3 0
<span>This is an example of a trade secret. The company actually holds one of the largest trade secrets in the world. Companies that have secrets like this may make their employees sign non-disclosure and confidentiality agreements so they don’t get out to competitors.</span>
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Goodwill is: Group of answer choices Amortized over the greater of its estimated life or forty years. Only recorded by the selle
Tems11 [23]

Explanation:

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, identifiable asset, or liability regardless of whether the entity intends to do so. Goodwill also does not include contractual or other legal rights regardless of whether those are transferable or separable from the entity or other rights and obligations. Goodwill is also only acquired through an acquisition; it cannot be self-created. Examples of identifiable assets that are goodwill include a company’s brand name, customer relationships, artistic intangible assets, and any patents or proprietary technology. The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the net value of the assets minus liabilities. It is classified as an intangible asset on the balance sheet, since it can neither be seen nor touched. Under US GAAP and IFRS, goodwill is never amortized, because it is considered to have an indefinite useful life. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost (what goodwill was purchased for), an impairment must be recorded to bring it down to its fair market value. However, an increase in the fair market value would not be accounted for in the financial statements. Private companies in the United States, however, may elect to amortize goodwill over a period of ten years or less under an accounting alternative from the Private Company Council of the FASB.

8 0
2 years ago
An assembly line is an example of which type of Labor strategy
spin [16.1K]
An assembly line is an example of mass production
7 0
3 years ago
Read 2 more answers
You meet a friend of yours for lunch. He is a supplier of coffee machines. While talking business, you mention to him that you'v
9966 [12]

Answer and explanation:

There are several factors to be considered at the moment of setting the price of a good or service that is going to be offered. Raw materials, production costs per unit, and labor are the most common. However, setting the price based on the competitors seems vague. An organization cannot depend on this matter strictly of another organization since the reasons for getting to the competitors' price is unknown.

Basing the price of a product based on demand and supply could be a good option. It will imply the price level will fluctuate according to market requests. By doing this, companies make sure to keep their expected revenues almost the same regardless of what competitors might be doing.

5 0
3 years ago
On the basis of the following data for Breach Co. for the current and preceding years ended December 31, prepare a statement of
Zepler [3.9K]

Answer:

2. c. 66.982

See explaination

Explanation:

Please kindly check attachment for the step by step solution of the given problem.

7 0
3 years ago
A firm recently replaced an existing piece of machinery with a different model that produces a higher-quality finished product w
MissTica

Answer:

capitalize the new cost as an asset to be amortized over future periods expected to benefit

Explanation:

A capitalized cost is a cost which is added to the cost basis of a fixed asset on a company's balance sheet. This Capitalized costs are sustained from the purchase or construction of fixed assets.  Example of such costs are costs of materials, sales taxes, labor, transportation, and interest incurred to finance the construction of the asset.

This is usually done for items that would be used over a long period of time, therefore the item is capitalized and amortized or depreciated over its future periods.

7 0
3 years ago
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