Question: Purchased goodwill should be Question 7 options: amortized over the period benefited, but not more than 40 years. not expensed or amortized, but rather reduced

Purchased goodwill should be Question 7 options: amortized over the period benefited, but not more than 40 years. not expensed or amortized, but rather reduced only if impairment occurs. expensed as soon as possible against retained earnings. expensed as soon as possible to other comprehensive income

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