Which of the Following Statements Is True Regarding Goodwill

question 86

Multiple Choice

Which of the following statements is true regarding goodwill?

• A) For accounting purposes, goodwill may be amortized over a period not to exceed 40 years.
• B) For accounting purposes, goodwill may be amortized over a period not to exceed 20 years.
• C) For tax purposes, goodwill amortization cannot be deductible.
• D) For tax purposes, goodwill amortization may be deductible over a 20-year period.
• E) For tax purposes, goodwill amortization may be deductible over a 15-year period.

---

Definitions:

Archive Messages

The process of moving messages from the main folder to an archive folder to declutter the inbox while preserving the emails for future reference.

Time Zone Settings

Configurations within a device to adjust the clock according to the geographic location's standard time.

RSS Feed

An online content subscription service that enables users and applications to receive updates in a uniform, machine-readable format.

Web Sources

Web sources are online materials such as websites, web pages, blogs, and other internet-based publications that provide information.