Which Statement Is Not Correct

question 74

Multiple Choice

Which statement is not correct?

• A)Goodwill represents the difference between the purchase price and the fair value of net assets acquired.
• B)Fair value is the after-tax amount at which an item could be sold in an arm's length transaction.
• C)Economic goodwill differs from accounting goodwill and can be created by branding.
• D)Fair value is the amount which could be exchanged in an arm's length transaction.

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Definitions:

Methods

Functions or procedures associated with a class or object in object-oriented programming.

Catch Block

A section of code used to handle exceptions in a try-catch structure in programming languages like Java.

Exception

Refers to an event that disrupts the normal flow of a program's execution, typically arising from errors during the program's run time.

Calling Environment

The context or scope where a function or procedure is invoked or executed.