WAEC - Accounts Principles Of Accounts (2014 - No. 32)

When the purchase consideration exceeds the value of business, the difference is

profit

discount

goodwill

reserve

Explanation

Goodwill is an intangible asset associated with the purchase of one company by another. It is a company's value that exceeds its assets minus its liabilities.

WAEC - Accounts Principles Of Accounts (2014 - No. 32)

Explanation

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