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Accounting

If the value implied by the purchase price of an acquired company exceeds the fair values of identifiable net assets, the excess should be:

a) allocated to reduce any previously recorded goodwill and classify any remainder as an ordinary gain.

b) allocated to reduce current and long-lived assets.

c) allocated to reduce long-lived assets.

d) accounted for as goodwill.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M986976

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