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What is goodwill

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Question - Long-lived assets can be considered future benefits to be used over a period of years. The value of these benefits in the first years may not be the same as in later years. Using a car as an example, indicate whether you agree or disagree, and why.

Imagine that your friend is concerned that the calculation of depreciation and amortization relies too much on the use of estimates. Your friend believes that accounting should be precise. Do you agree that the use of estimates makes accounting imprecise? Why or why not?

What is goodwill? Why is a company's internally generated goodwill usually not recorded in its accounting records?

Reference no: EM133162043

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