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Basic Question 0 of 6
What is the maximum period over which a company may amortize the cost of goodwill for financial reporting?
B. 40 years
C. It is not amortized.
A. Five years
B. 40 years
C. It is not amortized.
User Contributed Comments 3
| User | Comment |
|---|---|
| teddajr | Goodwill is not amortized, but is subject to impairment test (annually). |
| YOUCANDOIT | impairment occurs when fair value < carrying value of goodwill |
| Inaganti6 | @Youcandoit awful kind of you to motivate strangers |
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Learning Outcome Statements
describe characteristics of a well-functioning financial system
CFA® 2025 Level I Curriculum, Volume 3, Module 1.