How does goodwill arise? How is it accounted for and reported on the financial statements?
Goodwill arises when a company purchases a business and the amount of the purchase price paid exceeds the market value of the individual net assets at the time of purchase. It is reported as an intangible asset on the balance sheet at historical cost. Periodically, goodwill is assessed for impairment. It has an indefinite life and should not be amortized.
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The most important element of an outsourcing agreement for both parties, but mostly for the client, is what professionals call the _____.
Fill in the blank(s) with the appropriate word(s).
When you glean information from your company's accounting and sales records stored in the company's computer system, you are drawing upon internal data
Indicate whether the statement is true or false
The scope of your index should match the ______________________
a. complexity of your document b. layout of the document c. needs of your readers d. required page count of the document
An annulment is the legal equivalent of saying, "you and your spouse were never married."
Indicate whether the statement is true or false