Taking over a family business can to maintain the goodwill of the customers.

The answer is: true

Explanation:

Customers' goodwill can be defined as the relationship that develops between the customers and a business. Obviously this relationship is based on the products or services that the business sells, and many times it can become an intangible asset.

For example, no one is going to develop customer goodwill when purchasing on the internet. But some businesses create a special relationship with their clients, like a local bakery or coffee shop. When those types of family business is passed on to a son or daughter, the relationship with the customers will remain.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.