Azimuth Company Purchases a Small Business for $500,000

question 107

Multiple Choice

Azimuth Company purchases a small business for $500,000.The market value of the business's assets are $850,000,and the market value of the liabilities are $400,000.How much goodwill should Azimuth record?

• A) None
• B) $500,000
• C) $450,000
• D) $50,000

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