Which of the following is correct regarding the difference between the acquisition price and the fair value of the identifiable assets in a business combination? The excess fair value of the identifiable The excess acquisition price over fair assets over acquisition price value of the identifiable assets A. Gain A negative goodwill B. A negative goodwill A positive goodwill C. A negative good will Loss D. Gain A positive goodwill Golden company paid $500,000 to acquire all the ABC's outstanding common stock. At the acquisition date, the financial information of ABC is as follows: Net book value Fair value Assets $520,000 $550,000 Liabilities $140,000 $120,000 What amount should be reported as goodwill by Golden at the acquisition date? A. $120,000 B. $50,000 C. $70,000 D. $30,000