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

question 4

Multiple Choice

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.

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Definitions:

Psychological Disorders

Patterns of behavioral, cognitive, emotional, or physical symptoms shown by an individual, significantly affecting multiple areas of life and often considered deviant or distressing within their cultural context.

Impulsive

Impulsive describes a tendency to act quickly on desires and feelings without considering the consequences.

Panic Disorder

A psychiatric disorder characterized by unexpected and repeated episodes of intense fear accompanied by physical symptoms that may include chest pain, heart palpitations, shortness of breath, dizziness, or abdominal distress.

Intense Fear

An overwhelming and often irrational sense of apprehension or panic, usually in response to a specific stimulus or situation.