Which of the following costs of goodwill should becapitalized?Costs of goodwill from a business...Which...

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Question

Accounting

Which of the following costs of goodwill should becapitalized?
Costs of goodwill from a business combination accounted for as apurchase
Costs of developing goodwill internally
a)
No
No
b)
No
Yes
c)
Yes
No
d)
Yes
Yes

Answer & Explanation Solved by verified expert

3.8 Ratings (511 Votes)

c Yes No ie Goodwill from business combination can be capitalized whereas cost of developing goodwill internally cannot be capitalized Goodwill is technically an intangible asset but is usually listed separately on a See Answer

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Transcribed Image Text

In: AccountingWhich of the following costs of goodwill should becapitalized?Costs of goodwill from a business...Which of the following costs of goodwill should becapitalized?Costs of goodwill from a business combination accounted for as apurchaseCosts of developing goodwill internallya)NoNob)NoYesc)YesNod)YesYes

	Costs of goodwill from a business combination accounted for as apurchase	Costs of developing goodwill internally
a)	No	No
b)	No	Yes
c)	Yes	No
d)	Yes	Yes