Which of the Following Is True of Goodwill

question 62

Multiple Choice

Which of the following is true of goodwill?

• A)Goodwill must be capitalized when acquired and amortized over seven years or less.
• B)Both created and acquired goodwill must be recorded in the books.
• C)Goodwill must be expensed when acquired.
• D)Goodwill is not amortized.

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