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Why doesnt the Equity Investment account appear on the consolidated balance sheet?

Why is Goodwill referred to as a residual asset?

The quantitative two-step Goodwill impairment test begins with an estimate of the value of the reporting unit, typically a subsidiary, to determine if the value of the reporting unit is less than the reported balance of the Equity Investment account. Subsidiaries typically are not publicly traded companies. How can you perform a test using the value of a company that is not publicly traded?