All of the Following Statements Are True About Goodwill EXCEPT

question 79

Multiple Choice

All of the following statements are true about goodwill EXCEPT:

• A)goodwill is only recorded when it is purchased in the acquisition of another company.
• B)goodwill is not amortized.
• C)in rare cases, companies can record goodwill that they create for their own business.
• D)goodwill has an indefinite life.

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Definitions:

pH

A measure of the acidity or basicity of an aqueous solution, expressed as the negative logarithm of the hydrogen ion concentration.

Levorotatory

Describing a substance that rotates the plane of polarized light to the left (counterclockwise).

L-Amino Acids

The naturally occurring form of amino acids that are used to build proteins in living organisms.

Naturally Occurring

Refers to substances, phenomena, or structures that exist in nature without human intervention.