How might the concept of “winner’s curse” apply to the concept of accounting goodwill?

1. Looking at p. 53, does P&G report intangible assets?
2. Based on what P&G reports on p. 53, what activities did P&G pursue to
generate these intangible assets?
3. Based on the discussion on p. 57, how does P&G handle impairments of a
intangible assets?
4. Looking back at p. 53, P&G reports an ending balance of total equity (total
assets – total liabilities) equal to $68 billion as of fiscal year-end 2009. Could
you have purchased all of P&G for $68 billion on that date? Why not? What
does this indicate about P&G’s intangible assets?
5. Using an internet search, find the definition of the economic term “winner’s
curse”.
6. How might the concept of “winner’s curse” apply to the concept of accounting
goodwill?