Multiple Choice
On 1 July 2017 Good Ltd acquired a 100% interest in Life Ltd. At that time Life Ltd had goodwill of $10 000 recorded in its statement of financial position as a result of a previous business combination. The total goodwill arising on Good's acquisition of Life was $24 000. The goodwill to be recognised on consolidation as a result of Good's acquisition of Life is:
A) nil.
B) $10 000.
C) $14 000.
D) $24 000.
Correct Answer:
Verified
Correct Answer:
Verified
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