14. Which of the following properly describes the accou A. G accounting for goodwil? oodwill is created when it is internally generated. B. Goodwill is amortized over its useful life. oodwill is the difference between the amounts paid for a company relative to the book value of the company's net assets. D. Goodwill is written-down when it has been determined to be impaired. . How should a contingent liability that is "reasonably possible" but "cannot reasonably be estimated be reported within the financial statements? A. It must be recorded and reported as a liability. B. It does not need to be recorded or reported as a liability. C. It must only be disclosed as a note to the financial statements. D. It must be reported as a liability, but not disclosed in a