quot;(TCO D) Proponents of goodwill amortization argue that (Points :

“(TCO D) Proponents of goodwill amortization argue that (Points : 5)goodwill purchased at the time of acquisition has a finite life and will erode over time as conditions changethe purchased goodwill is replaced by internally generated goodwill that does not meet recognition criteria and, therefore, does not belong in the balance sheetthere is no clear measure of its decline or of the appropriate period of amortizationall of the above2. (TCO D) Goodwill could include (Points : 5)managementcustomer Listsmanufacturing equipmentmanagement and customer Lists3. (TCO H) Apple’s tax disclosure (Points : 5)explains that they compute the provision for income taxes using the asset and liability methodexplains that the company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realizedexplains that they recognize liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be dueboth “explains that they compute the provision for income taxes using the asset and liability method” and “explains that the company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized”

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