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Goodwill of $200,000 was recorded as a result of an acquisition of a company in a previous year.What type of asset is the Goodwill?

Assume at the end of the year, management believed the Goodwill may have been impaired and estimated its fair value at $180,000. How would the company recognize this event?

How often does the company have to test for impairment?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975984

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