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For financial reporting purposes, goodwill: May be recorded whenever a company achieves a level of net income that exceeds the industry average. Is amortized over
- For financial reporting purposes, goodwill:
- May be recorded whenever a company achieves a level of net income that exceeds the industry average.
- Is amortized over its useful life.
- May be recorded when a company purchases another business.
- Must be expensed in the period it is recorded because benefits from goodwill are difficult to identify.
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