Purchased Goodwill Must Be Capitalized but Can Be Amortized Over

question 61

True/False

Purchased goodwill must be capitalized but can be amortized over a 60-month period.

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Definitions:

Sense of Humor

The ability to appreciate, create, or recognize humor.

Genetics

The scientific study of heredity and the variation of inherited characteristics.

Heredity

The passing of physical or mental characteristics genetically from one generation to another.

Science

A systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.