Which of the Following Properly Describes the Accounting for Goodwill

question 45

Multiple Choice

Which of the following properly describes the accounting for goodwill?

• A)Goodwill is recorded when it is internally generated.
• B)Goodwill is amortized over its useful life.
• C)Goodwill is the difference between the amount paid for a company relative to the book value of the acquired company's net assets.
• D)Goodwill is written down when it has been determined to be impaired.