What Amount of Goodwill Should Be Attributed to the Noncontrolling

question 89

Multiple Choice

What amount of goodwill should be attributed to the noncontrolling interest at the date of acquisition?

• A) $ 0.
• B) $ 20,000.
• C) $ 30,000.
• D) $100,000.
• E) $120,000.

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Definitions:

Net Income

The concluding profit margin of a company after deducting all operational expenditures and taxes from its income.

Revenues

Income that a company receives from its normal business activities, usually from the sale of goods and services to customers.

Beginning Inventory

The amount of goods presented for buying at the initial stage of an accounting term.

Goods Available for Sale

The total quantity of goods that a company has in stock and is available to be sold, including both finished goods and those still in production.