Which of the following statements is true about goodwill? The intangible asset goodwill may be written off directly to O a. retained earnings. O b. The intangible asset goodwill may be capitalized either when purchased or created internally. O c. The intangible asset goodwill may be capitalized only when created internally. O d. The intangible asset goodwill may be capitalized only when purchased.

Which of the following statements is true about goodwill? The intangible asset goodwill may be written off directly to O a. retained earnings. O b. The intangible asset goodwill may be capitalized either when purchased or created internally. O c. The intangible asset goodwill may be capitalized only when created internally. O d. The intangible asset goodwill may be capitalized only when purchased.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following statements is true about goodwill?
O a.
The intangible asset goodwill may be written off directly to
retained earnings.
O b. The intangible asset goodwill may be capitalized either
when purchased or created internally.
O c. The intangible asset goodwill may be capitalized only when
created internally.
Fin
d. The intangible asset goodwill may be capitalized only when
purchased.
2.

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