what is cat goodwill and dog goodwill
Answers
Answer:
the last word is business.
Hope it helps.
Answer:
Special feature of a cat is that it remains at one place and does not change its living place from time to time. It is said that cat loves place more than person. Goodwill of some business is like cat because it depends on the place of business and it does not change due to change in ownership.
The cat stays in the old home although the person who has kept the home leaves, and so it represents the customer who goes to the old shop whoever keeps it, and provides local goodwill. This type of goodwill has stability and therefore its value is always maximum.
(b) Dog Goodwill:
Dogs are attached to the persons. Dog has more affection for its owner than the place. The faithful dog is attached to the person rather than to the place, he will follow the outgoing owner if he does not go too far.
There are some businesses whose goodwill depends on the owner. Such goodwill is called Dog Goodwill and its value is less. Certain customers are attached to the owner of the business due to his exceptional skill, personality, honesty etc. This applies specifically to professionals like Chartered Accountants, Doctors, Lawyers, and Sweet-stall Owners etc. Dog goodwill is difficult to transfer and is correspondingly less valuable.