When You Open a File Based on a Template,Excel Names

question 47

True/False

When you open a file based on a template,Excel names the new workbook using the template name with an appended alphabetic character,such as TemplateA.

Understand the amortization of intangible assets with definite useful lives and impairment testing.

Calculate goodwill from a business combination and assess its impairment.

Apply the equity method for intercompany investments and understand how it affects the investment account and income statement.

Record journal entries for equity method income, dividends, and acquisition differentials.

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Definitions:

Shares

Units of ownership interest in a corporation or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends.

Legal Entity

An organization that has legal rights and obligations, including the ability to enter into contracts and own property.

Stockholders' Equity

The residual interest in the assets of a corporation after subtracting liabilities, representing the ownership interest of shareholders.

Corporation

A business organized under state or federal statutes as a separate legal entity.