27. All of the following are acceptable methods to account for a majority-owned investment in subsidiary except A) The equity method B) The initial value method. C) The partial equity method D) The fair-value method. 28. Under the equity method of accounting for an investment: A) The investment account remains at initial value. 8) Dividends received are recorded as revenue. C) Goodwill is amortized over 20 years. D) Income reported by the subsidiary increases the investment account 29. According to GAAP regarding amortization of goodwill, which of the following statements is true? A. Goodwill recognized in consolidation must be amortized over 20 years. B. Goodwill recognized in consolidation must be expensed in the period of acquisition. C. Goodwill recognized in consolidation will not be amortized but subject to an annual test for impairment. D. Goodwill recognized in consolidation can never be written off. 30. When consolidating a subsidiary under the equity method, which of the following statements is true with regard to the subsidiary subsequent to the year of acquisition? A. All net assets are revalued to fair value and must be amortized over their usefull lives B. Only net assets that had excess fair value over book value when acquired by the parent must be amortized over their useful lives C. All depreciable net assets are revalued to fair value at date of acquisition and must be amortized over their useful lives