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In recording the acquisition cost of an entire business goodwill is recorded as the excess of cost over the fair value of identifiable net assets.

In recording the acquisition cost of an entire business

goodwill is recorded as the excess of cost over the fair value of identifiable net assets.

assets are recorded at the seller's book values.

goodwill is recorded as the excess of cost over the book value of identifiable net assets.

goodwill, if it exists, is never recorded.

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