In Recording the Acquisition Cost of an Entire Business

Multiple Choice

In recording the acquisition cost of an entire business,

A) goodwill is recorded as the excess of cost over the fair value of the net assets acquired.
B) assets are recorded at the seller's book values.
C) goodwill, if it exists, is never recorded.
D) goodwill is recorded as the excess of cost over the book value of the net assets acquired.