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Which of the following statements is true regarding goodwill? a.Goodwill is amortized based on the lesser of the useful life or the legal life. b.Goodwill

Which of the following statements is true regarding goodwill? a.Goodwill is amortized based on the lesser of the useful life or the legal life. b.Goodwill is amortized based on a 10-year period. c.Goodwill is the exclusive use of a name, term, or symbol used to identify a business or its product. d.If the purchase price of a business exceeds the fair value of its net assets, the excess is recorded as goodwill.

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