Which of the following statements regarding IFRS accounting for goodwill is/are CORRECT?

Question

Which of the following statements regarding IFRS accounting for goodwill   is/are  CORRECT?

Accepted Answer

Negative goodwill is reported as profits.

Answer

The calculation of goodwill at acquisition date uses book value of net assets.

Answer

The calculation of goodwill must take into account the non-controlling interest when the subsidiary is wholly-owned by the parent.

Answer

Positive goodwill is reported as profits.

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