The excess of fair value over implied value must be allocated to reduce proportionally the fair values initially assigned to:
A) current assets.
B) noncurrent assets.
C) both current and noncurrent assets.
D) none of these

Question

Quizplus · Accepted Answer

The excess of fair value over implied value is typically not allocated to reduce the fair values of assets. Instead, it may be recognized as goodwill or a similar intangible asset.

The Excess of Fair Value Over Implied Value Must Be