____ is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Goodwill
Goodwill represents the value of a firm’s reputation and its ability to earn profits in the future over and above normal profits.,It arises from factors like good management, loyal customers, quality products, and a strong market position