Goodwill Should Be Recorded in the Accounting Records Only When

Multiple Choice

Goodwill should be recorded in the accounting records only when

A) it is purchased from another company.
B) it can be established that a definite benefit or advantage has resulted to a firm from some item such as a good name,capable staff,or reputation.
C) it is acquired through the purchase of another business entity.
D) a firm reports above normal earnings for five or more consecutive years.