Accountancy, asked by singhbisan9, 6 months ago

name the accounting standard which implies that normally goodwill should not be brought into books unless it is paid for and whenevet it is recorded it should be written off over a period​

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Answered by Anonymous
2

Answer:

Goodwill is recorded only when it is acquired by purchase. Goodwill acquired in a business combination is considered to have an indefinite life and therefore should not be amortized, but should be tested for installment at least annually.

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