We record goodwill as an intangible asset in the balance sheet only when we purchase it as part of the acquisition of another company.

Name: We record goodwill as an intangible asset in the balance sheet only when we purchase it as part of the acquisition of another company.
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Question

Quizplus · Accepted Answer

Goodwill is recorded as an intangible asset in the balance sheet only when it is purchased as part of the acquisition of another company. It cannot be generated internally or purchased separately.

We Record Goodwill as an Intangible Asset in the Balance