3. Under what circumstances can internally generated goodwill be recognized? a. When the market value of...
3. Under what circumstances can internally generated goodwill be recognized?
a. When the market value of an entity exceeds
b. The brand of an entity is well-respected
c. The goodwill results from a contractural right
d. The goodwill will result in future economic benefits
e. Internally generated goodwill cannot be recognized
4. Which of the following statements is true regarding the revaluation method?
a. Revaluations are always recognized in profit and loss
b. Upward revaluations can never be recognized in profit and loss
c. Upward revaluations can be recognized in profit and loss under certain circumstances
d, Revaluations are always recognized in other comprehensive income
Homework Answers
Solution 3:
Internally generated goodwill cannot be recognized.
Hence option e is correct.
Solution 4:
The true statement regarding the revaluation method is " Revaluations are always recognized in other comprehensive income"
Hence option d is correct.
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