intangible assets-customer contracts- Hummings Mar 20

Professor in the question relating to customer contracts Q1 )b)i) , the contract is identifiable for crotchet not for hummings, for two reasons. Neither it is separable from crotchet, nor does it arise out of seperate contractual right with Hummings to obtain that contract from crotchet.

I understand that it arises out of contractual rights with customers by crotchet, but there is no contractual agreement between crotchet and hummings.

So even though it will be recognised for crotchet, i feel it should not have been included as a FV asset by Hummings in goodwill valuation.