Suppose Dee's Just Acquired the Assets of Flo's Flowers

question 34

Multiple Choice

Suppose Dee's just acquired the assets of Flo's Flowers.The book value of Flo's Flowers assets was $68,000 but Dee's paid a total of $75,000.The additional $7,000 paid by Dee's will be recorded on Dee's balance sheet as:

• A) accounts payable.
• B) goodwill.
• C) other current assets.
• D) property, plant, and equipment.

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Definitions:

Government Administration Costs

Expenses associated with the management and operation of government services and functions.

Universal Basic Income

A financial model proposing that all citizens receive a regular, unconditional sum of money from the government.

Proponents

Individuals or groups who support or advocate for a particular idea, policy, or project.

Income Equality

A situation where earnings are distributed in a way that all individuals or households achieve a similar level of income, minimizing wealth disparities.