Goodwill Is an Intangible Asset

Multiple Choice

Goodwill is an intangible asset

A) That has a definite life and its cost should be amortized over its useful life.
B) That is recorded when the company has projected earnings in excess of earnings expected for an investment in a similar company in the same industry.
C) That is reviewed for impairment when circumstances indicate that impairment may have occurred.
D) That is reviewed annually to determine whether impairment has occurred.