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The fair value of net identifiable assets exclusive of goodwill of a reporting unit of X Company is $300,000. On X Company's books, the carrying value of this reporting unit's net assets is $350,000, including $60,000 goodwill. If the fair value of the reporting unit is $335,000, what amount of goodwill impairment will be recognized for this unit?

a) $0

b) $10,000

c) $25,000

d) $35,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9449761

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