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True or False Goodwill has a limited life. Goodwill should be amortized over 52 years Negative goodwill is a loss to the purchaser. Goodwill impairment
True or False
- Goodwill has a limited life.
- Goodwill should be amortized over 52 years
- Negative goodwill is a loss to the purchaser.
- Goodwill impairment reversals are not permitted for ASPE and IFRS.
- Intangible assets can only be created internally.
- Impairment using the rational entity impairment model compares value in use with cost.
- Development costs can only be capitalized if six criteria are met, otherwise the costs are expensed as incurred.
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