On 1 July 2019 Gold Ltd acquired a 100% interest in Silver Ltd. At that date Silver Ltd had goodwill of $6 000 recorded in its statement of financial position as a result of a previous business combination. The total goodwill arising on Gold's acquisition of Silver was $16 000. The goodwill to be recognised on consolidation as a result of Gold's acquisition of Silver is:

QUESTION 5SELECT ONE:

a. nil.

b. $6 000.

c. $7 000.

d. $10 000.

Answer rating: 100% (QA)

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