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Topic: Miscellaneous
Number of pages / Number of words: 2 / 490
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Although the company will incur a loss with this method, they will not be in any auditing trouble when the time comes for the auditor to audit their financial statements. The company has a separate asset account titled Goodwill where they can include the information for goodwill and the other intangible assets...

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It discloses how a company should classify certain accounts on the balance sheet.

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