CFA Practice Question
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.
Correct Answer: C
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 |