According to SFAS 142,which of the Following Statements Is True

question 85

Multiple Choice

According to SFAS 142,which of the following statements is true?

• A)Goodwill recognized in consolidation must be amortized over 20 years.
• B)Goodwill recognized in consolidation must be expensed in the period of acquisition.
• C)Goodwill recognized in consolidation will not be amortized but subject to an annual test for impairment.
• D)Goodwill recognized in consolidation can never be written off.
• E)Goodwill recognized in consolidation must be amortized over 40 years.

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Definitions:

Alexithymic

A condition where a person has difficulty identifying and describing emotions in themselves or others.

Hedonic

Pertaining to pleasure or the pursuit of pleasure, often used in psychology to describe behaviors driven by the desire for immediate gratification.

CAPS Model

Stands for Cognitive-Affective Personality System, a psychological model emphasizing the interaction of cognitive and emotional processes in shaping personality.

Nomothetic Goals

Pertains to objectives that seek general laws and principles about behaviors or phenomena, aiming for universal insights.