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Goodwill Was Purchased When a Business Was Acquired

Question 97

Multiple Choice

Goodwill was purchased when a business was acquired. When it is determined that the goodwill is impaired, the credit is usually made to

A) the Goodwill account.
B) an Accumulated Impairment Loss account.
C) a Deferred Credit account.
D) a Shareholders' Equity account.

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