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For financial statement purposes, goodwill created by an acquisition: must be reviewed each year and amortized to the extent that it has lost value. never

For financial statement purposes, goodwill created by an acquisition:
must be reviewed each year and amortized to the extent that it has lost value.
never affects the profits of the acquiring firm.
is expensed evenly over a 20-year period.
must be amortized on a straight-line basis over 10 years.
is recorded in an amount equal to the fair market value of the assets of the target firm.
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