Current accounting principles require that goodwill be expensed according to which of the following?
A)systematically over its estimated useful life.
B)arbitrarily over a period of no more than 20 years.
C)as impairment occurs.
D)at the completion of the acquisition.

Question

Quizplus · Accepted Answer

Goodwill is not amortized but is tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired.

Current Accounting Principles Require That Goodwill Be Expensed According to Which