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whats the accounting issue in the following scenario? In June, the exclusive rights to a...

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Accounting

whats the accounting issue in the following scenario?

In June, the exclusive rights to a customer list were acquired for $75,000 from a competitor. The price paid for the customer list was based on a valuation prepared by a Chartered Business Valuator. This amount was expensed in the financial statements consistent with the treatment for costs incurred to internally generate OTEs customer list

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