When consolidating parent and subsidiary financial statements, which of the following statements is true? Multiple Choice Goodwill may be recorded on the parent company's books. Goodwill is never recognized. Goodwill required Is amortized over 20 years. Goodwill should be expensed in the year of acquisition. The value of any goodwill should be tested annually for impairment in value.

When consolidating parent and subsidiary financial statements, which of the following statements is true? Multiple Choice Goodwal myy be recorded on the parent companys books. Goodwill is never recognized. Goodwill required is amonizedaver 20 years Goodwill should be expensed in the year of acquistion. The value of any poodwil should be tested ennuely for impaiment in value