Goodwill on Consolidation Is Classified in the Statement of Financial

question 2

Multiple Choice

Goodwill on consolidation is classified in the statement of financial position as a/an:

• A)current asset.
• B)tangible asset.
• C)intangible asset.
• D)non-current liability.

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Definitions:

Economy

The system by which goods and services are produced, distributed, and consumed within a particular country or area.

Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of money.

Labor Force Participation Rate

The percentage of the total working-age population that is active in the labor market, either employed or actively seeking employment.

Adults

Individuals who have reached a specific age or maturity level, generally considered to be the age at which they can assume legal rights and responsibilities.