When Consolidating Parent and Subsidiary Financial Statements, Which of the Following

Multiple Choice

When consolidating parent and subsidiary financial statements, which of the following statements is true?

A) Goodwill is never recognized.
B) Goodwill required is amortized over 20 years.
C) Goodwill may be recorded on the parent company's books.
D) The value of any goodwill should be tested annually for impairment in value.
E) Goodwill should be expensed in the year of acquisition.