Having recognized goodwill arising in the business combination, which of the following statements regarding the subsequent accounting is FALSE?
A)Goodwill is subject to amortization.
B)Goodwill is subject to an annual impairment test.
C)Goodwill cannot be revalued.
D)IAS38 does not allow the recognition of internally generated goodwill.

Question

Quizplus · Accepted Answer

Goodwill cannot be subject to amortization according to IFRS, instead, it is subject to an annual impairment test.

Having Recognized Goodwill Arising in the Business Combination, Which of the Following