Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 2
- A
incorrect because this is the definition of an internally generated goodwill.
- B
incorrect because it is the future economic benefits arising from other assets acquired that are not capable of being individually identified and separately recognized.
- C
correct because this is the definition given by the accounting standard.
- D
correct because goodwill can be individually identified and separately recognized.
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