Goodwill is recorded in the accounts only if it is purchased by [...]
acquiring another business at a price higher than the fair market value of its net identifiable assets.
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Subject 2. Measurement Bases of Assets and Liabilities lly possesses an indefinite benefit period. It stems from such factors as a good reputation, loyal customers, and superior management. Any business that earns significantly more than a normal rate of return actually has goodwill.
<span>Goodwill is recorded in the accounts only if it is purchased by acquiring another business at a price higher than the fair market value of its net identifiable assets. It is not valued directly but inferred from the values of the acquired assets compared with the purchase price. It is the premium paid for the target company's reputation, brand names,
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