Good will arising from business combination is: a. charged to Retained Earnings after the acquisition is completed b. amortized over 40 years or its useful life whichever is longer c. amortized over 40 years of its useful life whichever is shorter d. never amortized
Good will arising from business combination is: a. charged to Retained Earnings after the acquisition is completed b. amortized over 40 years or its useful life whichever is longer c. amortized over 40 years of its useful life whichever is shorter d. never amortized
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Good will arising from business combination is:
a. charged to Retained Earnings after the acquisition is completed
b. amortized over 40 years or its useful life whichever is longer
c. amortized over 40 years of its useful life whichever is shorter
d. never amortized
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