When consolidating parent and subsidiary financial statements, which of the following statements is true?
A. Goodwill should be expensed in the year of acquisition.
B. The value of any goodwill should be tested annually for impairment in value.
C. Goodwill is never recognized.
D. Goodwill may be recorded on the parent company's books.
E. Goodwill required is amortized over 20 years.
Answer: B
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Pumpkin Corporation issued 10,000 shares of common stock on January 1, 2018. The stock has no par value and was issued at $17 per share. The journal entry for this transaction includes a ________.
A) debit to Cash for $170,000 and a credit to Common Stock—No-Par Value for $170,000 B) debit to Cash for $170,000 and a credit to Paid-In Capital in Excess of Par—Common for $170,000 C) credit to Cash for $170,000 and a debit to Common Stock—No-Par Value for $170,000 D) credit to Cash for $170,000, a debit to Paid-In Capital in Excess of Par—Common for $10,000, and a debit to Common Stock—No-Par Value for $160,000
What kind of communicators can be seen as manipulative or trying to hide their true motivations?
A. neutral B. empathetic C. strategic D. control
A person can purchase a(n) ________ from a bank by paying the bank the amount of the check plus a fee for issuing the check
A) indorsed check B) ordinary check C) blank check D) cashier's check
The ________ ratio tells you whether you have enough cash to cover your current debt.
A. financial B. operating C. income D. quick