Multiple Choice
Cobra Ltd acquired the business of Rattle Ltd for a cash payment of $820 000. The carrying amount of Rattle Ltd's assets at the time of purchase was $690 000 while the independent fair value was $760 000. There were no liabilities. What is the value of the purchased goodwill recorded by Cobra Ltd?
A) $0
B) $60 000
C) $70 000
D) $130 000
Correct Answer:
Verified
Correct Answer:
Verified
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