U.S. GAAP requires significant disclosures for goodwill, including all of the following except ________.
A) goodwill acquired
B) goodwill included in the disposal of a business unit
C) goodwill amortization
D) goodwill impaired

Question

Quizplus · Accepted Answer

Under U.S. GAAP, goodwill is not amortized but is instead tested for impairment annually or more frequently if events or changes in circumstances indicate that it might be impaired. Therefore, there is no requirement to disclose goodwill amortization.

US GAAP Requires Significant Disclosures for Goodwill, Including All of the Following