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Question: What is goodwill? a. An intangible asset


What is goodwill?
a. An intangible asset representing the excess of consideration transferred over the collective fair values of the net identifiable assets acquired in a business combination
b. An expense that an acquiring firm recognizes for the excess of consideration transferred over the collective fair values of the net identifiable assets acquired in a business combination
c. A concept representing synergies resulting from a business combination but not recognized for financial reporting purposes
d. An internally developed intangible asset that is recognized on a business firm’s balance sheet as the business generates profits in excess of a normal rate of return on its identifiable net assets

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