Under GAAP, goodwill is: A Amortized over 40 years B Not amortized but tested annually for impairment C Expensed immediately D Never written down ✓ Correct Answer: Option B ASC 350: goodwill is not amortized. Instead, it must be tested for impairment at least annually. Practice CPA Exam Prep Quizzes → Browse All Questions Study Flashcards