Multiple Choice
Stephen's Auto recently purchased Auto Express for $9.8 million.Auto Express had a market value of $9.5 million at the time of acquisition.The additional $0.3 million that Stephen's Auto paid for Auto Express will be treated on Stephen's Auto's balance sheet as which type of account?
A) patent
B) depreciation
C) licenses
D) goodwill
E) acquisition expense
Correct Answer:
Verified
Correct Answer:
Verified
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