Home › Bihar Board Class 12 (Commerce) › Accountancy › Accounting for Partnership Firms: Goodwill › Private companies in the United States may elect…
Private companies in the United States may elect to amortise goodwill over
ATwenty years or more
BNever, under any rule
CTen years or less
DExactly forty years
Answer & Solution
Correct answer: C. Ten years or less
The Private Company Council alternative lets private firms amortise goodwill over a period of ten years or less.
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