Answer:
Step-by-step explanation:
Firm W owns the business , both goodwill and going concern value are owned by it. So it has no tax liabilities and chooses not to report in its business tax return.
Firm X may have been acquired, it must amortize both goodwill and going concern for 15 years and that is why reported it on its tax return as deduction.
*Intangible assets that may not be listed on balance sheet during acquisition, must be amortized for 15 years.
