The unamortized excess account is
A)a contra-equity account.
B)used in allocating the amounts paid for recorded balance sheet accounts that are above or below their fair values.
C)used in allocating the amounts paid for each asset and liability that are above or below their book values,especially when numerous assets or liabilities are involved.
D)the excess purchase cost that is attributable to goodwill.

Question

Quizplus · Accepted Answer

The unamortized excess account is used in allocating the amounts paid for each asset and liability that are above or below their book values, especially when numerous assets or liabilities are involved.

The Unamortized Excess Account Is