The treatment of internally generated goodwill varies from purchased goodwill under AASB 138 in that:
A) Purchased goodwill is not amortised whereas internally generated goodwill is assumed to be maintained indefinitely.
B) Purchased goodwill may be recorded as an asset, whereas internally generated goodwill may not.
C) Internally generated goodwill is to be amortised over a period of no greater than 20 years, whereas purchased goodwill may not be recorded.
D) Purchased goodwill is to be expensed in the period it is bought whereas internally generated goodwill is to be deferred and amortised over a period of no less than 20 years.
E) None of the given answers.
Correct Answer:
Verified
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