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5.10 For the year ended 30 June 2020, Masher Ltd, a resident manufacturer,reported an operating profit of $750,000 in its Financial Accounts.In preparing the financial
5.10 For the year ended 30 June 2020, Masher Ltd, a resident manufacturer,reported an operating profit of $750,000 in its Financial Accounts.In preparing the financial statements,the accountant incorporated information that $30,000 had been written off the goodwill arising from the acquisition of a business in 2010. Which of the following statements about this is LEAST correct? A. Goodwill is a capital asset B. Goodwill is an intangible asset C.Goodwill cannot be deducted under s8-1 D. Goodwill is deductible under s40-880
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