Goodwill appears in the books of a business only if it has been

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Accounts - Principles of Accounts JAMB 1994

Goodwill appears in the books of a business only if it has been

  • purchased at a certain price
  • raised in connection with the admission of a new partner checkmark
  • raised to account for the true value of a business on the death of a partner
  • raised in order to prevent the balance sheet showing that the business is insolvent

The correct answer is: B

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