Goodwill Is an Intangible Asset

question 29

Multiple Choice

Goodwill is an intangible asset

• A) That has a definite life and its cost should be amortized over its useful life.
• B) That is recorded when the company has projected earnings in excess of earnings expected for an investment in a similar company in the same industry.
• C) That is reviewed for impairment when circumstances indicate that impairment may have occurred.
• D) That is reviewed annually to determine whether impairment has occurred.

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Definitions:

Double V Campaign

A World War II-era movement by African Americans advocating for victory over fascism abroad and racial discrimination at home in the United States.

Discrimination

The unjust or prejudicial treatment of different categories of people, especially based on race, age, sex, or disability.

Executive Order 8802

Executive Order 8802 was issued by President Franklin D. Roosevelt in 1941 to prohibit racial discrimination in the national defense industry.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, national origin, disability, or other protected characteristics rather than job performance or qualifications.