Ask Question
21 March, 22:24

In accounting, goodwill

A. Is never recorded.

B. May be recorded when a company's level of net income exceeds the industry average.

C. Must be expensed in the period when it is acquired.

D. May be recorded when the company purchases another business.

+3
Answers (1)
  1. 22 March, 00:28
    0
    D. May be recorded when the company purchases another business.

    Explanation:

    Goodwill is the amount in excess of the purchase price of a company acquired less all the liabilities and assets of the company purchased.

    It is recorded on the balance sheet as an intangible asset.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In accounting, goodwill A. Is never recorded. B. May be recorded when a company's level of net income exceeds the industry average. C. Must ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers