Under SFAS 141 and 142, the following occurred
A) goodwill is now amortized
B) at least 4 times per year, goodwill must be tested to determine if impaired
C) allowed a one time write-down of all past goodwill impairment
D) created pooling of interests accounting

Question

Quizplus · Accepted Answer

SFAS 141 and 142 eliminated the amortization of goodwill and required that it be tested for impairment at least annually, not four times a year. They did not allow pooling of interests accounting, but they did allow a one-time write-down of all past goodwill impairment.

Under SFAS 141 and 142, the Following Occurred