LO $4-1,4-2,4-6$

:$4-10$ Multiple$-$Choice Questions on Consolidation Process

Select the most appropriate answer for each of the following questions:

Goodwill is

a$.$ Seldom reported because it is too difficult to measure.

b$.$ Reported when more than book value is paid in purchasing another company.

c$.$ Reported when the fair value of the acquiree is higher than the fair value of the net identifiable assets acquired.

d$.$ Generally smaller for small companies and increases in amount as the companies acquired increase in size.