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Basic Question 1 of 7
What is the maximum period over which a company may amortize the cost of goodwill for financial reporting?
B. 40 years
C. It is not amortized.
A. Five years
B. 40 years
C. It is not amortized.
User Contributed Comments 3
| User | Comment |
|---|---|
| teddajr | Goodwill is not amortized, but is subject to impairment test (annually). |
| YOUCANDOIT | impairment occurs when fair value < carrying value of goodwill |
| Inaganti6 | @Youcandoit awful kind of you to motivate strangers |
I was very pleased with your notes and question bank. I especially like the mock exams because it helped to pull everything together.
Martin Rockenfeldt
Learning Outcome Statements
explain the financial reporting and disclosures related to goodwill
CFA® 2025 Level I Curriculum, Volume 2, Module 3.