1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yaroslaw [1]
2 years ago
8

Goodwill is: Group of answer choices Amortized over the greater of its estimated life or forty years. Only recorded by the selle

r of a business. The excess of the fair value of the consideration exchanged for the company over the fair value of net assets acquired. None of these.
Business
1 answer:
Tems11 [23]2 years ago
8 0

Explanation:

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, identifiable asset, or liability regardless of whether the entity intends to do so. Goodwill also does not include contractual or other legal rights regardless of whether those are transferable or separable from the entity or other rights and obligations. Goodwill is also only acquired through an acquisition; it cannot be self-created. Examples of identifiable assets that are goodwill include a company’s brand name, customer relationships, artistic intangible assets, and any patents or proprietary technology. The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the net value of the assets minus liabilities. It is classified as an intangible asset on the balance sheet, since it can neither be seen nor touched. Under US GAAP and IFRS, goodwill is never amortized, because it is considered to have an indefinite useful life. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost (what goodwill was purchased for), an impairment must be recorded to bring it down to its fair market value. However, an increase in the fair market value would not be accounted for in the financial statements. Private companies in the United States, however, may elect to amortize goodwill over a period of ten years or less under an accounting alternative from the Private Company Council of the FASB.

You might be interested in
Select the correct answer. Which term describes the ability to use different types of reasoning for different situations and ana
Volgvan
A.
None of the other answers make sense.
Critical thinking involves deep thought into a problem while also factoring other events into play.
8 0
3 years ago
Read 2 more answers
Before going into a prospect's office, the secretary advised the new salesperson that her boss likes facts and figures and is su
Nookie1986 [14]

Answer: ANALYTICALS/ ANALYTICAL THINKERS

Explanation:

Analytical thinkers are known to use knowledge and facts to get to a decision. They prefer to know all they can about a subject before they comment on it and as such rarely jump to conclusions. They are usually introverted as well and prefer not to deal with others.

This is why it stands to reason that the prospect is an Analytical.

4 0
3 years ago
Read 2 more answers
MY FINAL QUESTION 80 POINTS! TAKE your time :) Look at image below
Sliva [168]

Explanation:

  • Understand your audience. ..
  • Create your blog domain. ...
  • Customize your blog's theme. ...
  • Identify your first blog post's topic. ...
  • Come up with a working title. ...
  • Write an intro (and make it captivating). ...
  • Organize your content in an outline. ...
  • Write your blog post!

this is the guidence how to make blog

I hope u find this helpful

6 0
2 years ago
Wave check i just been balling out every season
Irina-Kira [14]

Answer:

ok cool

Explanation:

7 0
3 years ago
Brad notices that customers at his store prefer certain types of snack foods over others. In response to his customers' preferen
jarptica [38.1K]

Answer:

micro-merchandising

Explanation:

Micro - merchandising -

It refers to the type of merchandising , in which the retrailer alteres the positioning of the goods and services according to the needs and demands of the consumers , is referred to as micro - merchandising .

In this type of practice , the needs and demands of the consumer is the main focus of this merchandising .

Hence , from the given scenario of the question ,

The correct answer is micro-merchandising .

3 0
3 years ago
Other questions:
  • At the beginning of Year 1, Mitchell Company purchased office equipment for $15,000. The machine has an estimated residual value
    10·1 answer
  • The Constitution sets out the authority and the limits of the branches of the government.
    10·1 answer
  • If 25 consecutive tosses of a fair coin have all been heads, some individuals tend to think that the next one "must be heads." T
    14·1 answer
  • Which type of bank account is most likely to pay you interest on the money in the account?
    12·1 answer
  • Corporate finance is concerned with the different aspects of a business’s financial management. The chief financial officer (CFO
    14·1 answer
  • The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upc
    12·1 answer
  • Scarcity implies that a customer wants things from a business A. many B. few C. specific D. quality​
    13·1 answer
  • 32. Peter must decide if he should add one more dog to his dog-walking business. What is this decision an
    8·1 answer
  • The following data have been recorded for the production of Product A-11 in the current period. Direct materials cost was $2,079
    12·1 answer
  • Overuse of the priority flag by a business email sender can lead to a reputation as?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!