Following Its Acquisition of the Net Assets of Dan Company

question 46

Multiple Choice

Following its acquisition of the net assets of Dan Company, Empire Company assigned goodwill of $60,000 to one of the reporting divisions. Information for this division follows:

-Based on the preceding information,what amount of goodwill (after any impairment) will be reported for this division if its fair value is determined to be $200,000?

• A) $0
• B) $60,000
• C) $30,000
• D) $10,000

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