Chapter 12, Problem 14Q

To determine

Financial Statement: A collection of financial data in a predetermined format is termed as financial reports. A collection of financial reports are termed as financial statements.

Goodwill: Goodwill is an intangible asset. Goodwill is a reputation of a business which cannot be easily identified or valued, but it is calculated as part of its value when it is sold.

To determine the reason for write off goodwill immediately by financial analysts.