Goodwill is not recognized in accounting unless it is acquired from purchasing another business enterprise.

Name: Goodwill is not recognized in accounting unless it is acquired from purchasing another business enterprise.
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Question

Quizplus · Accepted Answer

Goodwill is recognized as an intangible asset in accounting only when it is acquired through the purchase of another business, as it represents the excess of the purchase price over the fair value of the identifiable net assets acquired.

Goodwill Is Not Recognized in Accounting Unless It Is Acquired