Final answer:
The statement is true. Goodwill is the intangible value of a company's employees, management team, and business location that is recorded by the company.
Step-by-step explanation:
The statement is true. Goodwill is the intangible value of a company's employees, management team, and business location that is recorded by the company. It represents the reputation and brand name of the company, along with customer loyalty and other intangible assets.
For example, if a restaurant has built a strong reputation for excellent service and high-quality food, this positive reputation and customer loyalty would be considered part of the restaurant's goodwill.