Multiple Choice
L Ltd acquired the business of M Ltd for a cash payment of $750 000.The carrying amount of M Ltd's assets at the time of purchase was $410 000 while the independent fair value was $630 000.There were no liabilities.What is the value of the purchased goodwill recorded by L Ltd?
A) $120 000
B) $340 000
C) $220 000
D) 0
Correct Answer:
Verified
Correct Answer:
Verified
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