Which of the following statements is correct regarding accounting treatment of goodwill?
A. Goodwill is recorded as an asset and amortized over 5 years regardless of any change in value.
B. Goodwill is recorded as an asset and is not written off as an expense unless its value decreases.
C. Goodwill is recorded as an asset and amortized over 40 years unless its value decreases.
D. Goodwill is expensed immediately in the year acquired.
Answer: B
You might also like to view...
Traci is using the opening of her message to trigger the? reader's memory of the relationship they? had, the dates of their? association, and any special events or accomplishments that might bring a clear and favorable picture of her to mind. Traci is? ______________.
A. requesting a letter of recommendation B. filing a complaint C. requesting an adjustment D. issuing a grievance E. making a claim
The risk identification process should be limited to just the core project team.
Answer the following statement true (T) or false (F)
Which of the following is not true about copyright protection for computer programs?
A) The computer program object code can be copyrighted. B) The Register of Copyrights is authorized to accept and record documents related to copyrighted computer programs. C) The term of protection is shorter for computer programs than for other copyrighted items. D) The masks used to create computer chips are able to be copyrighted.
Under the doctrine of nuisance, persons may be liable if they use their property in a manner that unreasonably interferes with others' rights to use or enjoy their own property
Indicate whether the statement is true or false