Which of the following statements is true about goodwill?

a. Current reporting standards require that goodwill be amortized over its economic life.

b. Goodwill is written down when the fair value of the investee implies a goodwill value below the investor’s goodwill account.

c. Goodwill can be recognized only when the acquisition price does not exceed the value of the tangible and identifiable intangible assets acquired.

d. The recording of goodwill can be based on the acquisition of assets such as patents and trademarks.

e. Goodwill equals retained earnings.