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5. Goodwill is recognized for accounting purposes a. b. PON C. d. when a business is purchased for a price that exceeds the fair

5. Goodwill is recognized for accounting purposes a. b. PON C. d. when a business is purchased for a price that exceeds the fair market value of its assets less liabilities every year as long as the IRS does not object when the value of a business exceeds its historical cost book value when a business is purchased for a price that exceeds the book value of its assets less liabilities

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