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What is required with respect to accounting for goodwill

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problem 1: What is required with respect to accounting for goodwill?

A. Goodwill should be amortized over a five year period.

B. Goodwill should be recorded and periodically evaluated for impairment.

C. Goodwill should be amortized over the expected useful life.

D. Goodwill should be recorded and never adjusted.

problem 21: Which of the following is not a method of computing goodwill?

A. Capitalize excess earnings.

B. Capitalize total average earnings and subtract the fair value of net assets.

C. Discount the excess earnings for a limited number of years.

D. All of these are methods of computing goodwill.

Reference no: EM132785504

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