Azimuth Company Purchases a Small Business for $450,000

question 152

Multiple Choice

Azimuth Company purchases a small business for $450,000.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