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Goodwill recognized in a business combination must be allocated among a firm's identified reporting units. If the fair value of a particular reporting unit with

Goodwill recognized in a business combination must be allocated among a firm's identified reporting units. If the fair value of a particular reporting unit with recognized goodwill falls below its carrying amount, which of the following is true?

  • a. No goodwill impairment loss is recognized unless the implied value for goodwill exceeds its carrying amount.
  • b. A goodwill impairment loss is recognized if the carrying amount for goodwill exceeds its implied value.
  • c. A goodwill impairment loss is recognized for the difference between the reporting unit

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