Question: Under the purchase accounting method, Multiple Choice acquired assets are recorded based on their target firms book values. goodwill will generally be a long -

Under the purchase accounting method,
Multiple Choice
acquired assets are recorded based on their target firms book values.
goodwill will generally be a long-term liability on the acquirers books.
acquired assets are recorded at fair market value.
goodwill must be amortized straight-line over the target firms estimated life.
goodwill always remains on the acquirers books at its original value.

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