Goodwill 1. Which statement best describes subsequent measurement of goodwill, as defined by ASC 350-20? a. Covers the required criteria, timing, and location (within the financial statements) for recording a particular item in the financial statements. b. The changes in the carrying amount of goodwill during the period shall be disclosed c. The ongoing measurement and recognition of an item after initial recognition. d. The process where an entity determines whether and when to remove an item from the financial statement