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According to GAAP regarding amortization of goodwilt, which of the following statements is true? Multiple Choice Goodwill recognized in consolidation must be amortized over 20

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According to GAAP regarding amortization of goodwilt, which of the following statements is true? Multiple Choice Goodwill recognized in consolidation must be amortized over 20 years. Goodwill recognized in consolidation must be expensed in the period of acquisition. Goodwill recognized in consolidation can never be written off. Goodwill recognized in consolidation will not be amortized but subject to an annual test for impairment. Goodwill recognized in consolidation must be amortized over 40 years

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