Each year,goodwill on the consolidated balance sheet is ________.
A) amortized
B) depreciated
C) evaluated by management to determine if it is impaired
D) ignored

Question

Quizplus · Accepted Answer

Goodwill on the consolidated balance sheet is evaluated by management to determine if it is impaired each year. This means that management considers whether the value of goodwill has decreased and, if so, it may need to be written down or adjusted on the balance sheet. Goodwill is not amortized or depreciated, and it cannot be ignored as it represents a significant asset on the company's balance sheet.

Each Year,goodwill on the Consolidated Balance Sheet Is ________