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Facebook, Inc. acquires a subsidiary for $10,000,000. The fair value of identifiable net assets acquired is $8,000,000. Calculate the goodwill recorded by Facebook as a

ยท Facebook, Inc. acquires a subsidiary for $10,000,000. The fair value of identifiable net assets acquired is $8,000,000. Calculate the goodwill recorded by Facebook as a result of the acquisition. Discuss the significance of goodwill in financial reporting.

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