Which of the Following Is/are True About Goodwill

question 128

Multiple Choice

Which of the following is/are true about goodwill?

• A)Goodwill reflects the value of knowledgeable employees.
• B)Goodwill reflects the value of a reputation for quality products.
• C)Under both U.S.GAAP and IFRS, goodwill has an indefinite life, and firms do not amortize the amount recognized as goodwill.
• D)Firms must test goodwill annually for a loss in value.
• E)all of the above

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