All of the following statements are true about goodwill EXCEPT:
A) goodwill is only recorded when it is purchased in the acquisition of another company.
B) goodwill is not amortized.
C) in rare cases, companies can record goodwill that they create for their own business.
D) goodwill has an indefinite life.
Correct Answer:
Verified
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Q200: The entry to record amortization:
A) increases total
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