Goodwill Flashcards
1
Q
can internally generated goodwill be shown as an asset
A
no
2
Q
how does goodwill arise
A
acquisitions
3
Q
how is goodwill measured
A
at cost
4
Q
what is the cost of goodwill
A
excess cost of the business acquisition over the net fair value of the identifiable assets and liabilities which have been acquired
5
Q
can goodwill be negative
A
yes
6
Q
when does negative goodwill occur
A
cost of acquisition less than net fair value of assets
7
Q
is good will amortised
A
no
8
Q
how is goodwill tested
A
impairment review annually
