Goodwill is considered a master valuation account because it measures the value of specifically identifiable intangible assets.

Name: Goodwill is considered a master valuation account because it measures the value of specifically identifiable intangible assets.
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Quizplus · Accepted Answer

Goodwill is actually considered a residual asset and is calculated as the difference between the purchase price of a company and the fair value of its net identifiable assets. It is not a specific measurement of intangible assets.

Goodwill Is Considered a Master Valuation Account Because It Measures