1- Internal investment accounting using the Equity, Initial Value, and Partial Equity methods require different procedures for consolidation, but the consolidated statements will end up with the same reported amounts. True or False

2- Goodwill recognized in a business combination subject to consolidation requires determining, measuring and reporting goodwill impairment losses by amortizing goodwill over a 10 year period. True or False

3- Entities assess goodwill for impairment annually for each separate business unit where goodwill exists. True or False

4- Intangible assets with with definite lives are subject to amortization, so impairment assessment is unnecessary for these assets. True or False

5- Contingent payments after acquisition, or earn-outs, allow selling owners of an acquiree company to obtain additional compensation, and are required to be estimated and recognized only when the contingent payments become fixed. True or False

6- Both public and non-public companies are subject to the same basic standards for amortization of goodwill. True or False