Which of the Following Statements About Goodwill Is Correct

question 21

Multiple Choice

Which of the following statements about goodwill is correct?

• A) Goodwill is classified as a current asset.
• B) Goodwill can be purchased or sold as a separate item.
• C) Under IFRS 3/AASB 3 goodwill must be amortised.
• D) Goodwill arises from many factors, such as customer confidence, superior management and a favourable location.

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Definitions:

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A dietary supplement used to increase the amount of iron in the body, often prescribed for anemia.

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Side Effect

An unwanted or unexpected reaction to a medication or treatment that occurs in addition to the desired therapeutic effect.