Business, 12.11.2019 02:31 ItzNayaa

Detroit corporation sued chicago corporation for intentional damage to detroit's goodwill. detroit had created its goodwill through providing high-quality services to its customers. thus, no basis for the goodwill appeared on detroit's balance sheet. the suit was settled and detroit received $1,500,000 for the damages to its goodwill. a. the $1,500,000 is not taxable because it represents a recovery of capital. b. the $1,500,000 is taxable because detroit has no basis in the goodwill. c. the $1,500,000 is not taxable because detroit did nothing to earn the money. d. the $1,500,000 is not taxable because detroit settled the case. e. none of these.

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Detroit corporation sued chicago corporation for intentional damage to detroit's goodwill. detroit h...

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