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Ch2- The Balance Sheet-6 - • Represent claims against...

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Other Assets— ___________ Most important for analytical purposes because of potential materiality Arises when one company _________ another company for a price in ________ of the fair market value of the net identifiable assets acquired 2-2 Goodwill
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Goodwill (cont.) Beginning in 2002, companies required to evaluate goodwill and determine whether it has lost value Amount of _____________ is expensed in the year the determination is made 2-3
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Goodwill (cont.) Some corporations take enormous write-offs when companies they have acquired ________ value Earnings increase for some firms relative to prior years because ______________ expense is no longer recorded 2-4
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2-5 Other Assets Intangible Assets ______________ ______________ ______________ ______________
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Unformatted text preview: • ______________ ______________ Represent claims against assets by creditors ___________ Liabilities must be satisfied in one year or one operating cycle and include: • Accounts Payable • Notes Payable • Current Portion of Long-Term Debt • Accrued Liabilities • Unearned Revenue • Deferred Taxes (may be noncurrent) 2-6 Liabilities (cont.) • Short-term obligations that arise from ____________ extended by suppliers for the purchase of goods and services • Account is eliminated when the _______ is satisfied • Significant changes from period to period often result from changes in sales volume, economic conditions or credit policies available to firm from its _____________ 2-7 Accounts Payable...
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