Which of the following statements regarding IFRS accounting for goodwill is/are CORRECT?

Question

Which of the following statements regarding IFRS accounting for goodwill   is/are  CORRECT?

Accepted Answer

Negative goodwill is reported as profits.

Answer

Positive goodwill is reported as profits.

Answer

The calculation of goodwill must take into account the non-controlling interest when the subsidiary is wholly-owned by the parent.

Answer

The calculation of goodwill at acquisition date uses book value of net assets.

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