An annual goodwill impairment test is done at the reporting, Managerial Accounting

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An annual goodwill impairment test is done at the reporting

In regard to goodwill which of the following is false?

Negative goodwill is recorded as a credit to the goodwill account.

Reporting companies are required to use an annual goodwill impairment test.

An annual goodwill impairment test is done at the reporting unit level.

All goodwill is assigned to a reporting unit.

If fair value of the reporting unit is greater than the book value carrying amount then there is no impairment

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Managerial Accounting: An annual goodwill impairment test is done at the reporting

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