Question 4 (1 point) Once goodwill has been recognized in the accounts, how should it be treated in subsequent periods? Three basic approaches have been suggested. Which of these do IFRS and ASPE require? Retain goodwill indefinitely unless a reduction in value occurs. Charge goodwill immediately to expense. Amortize goodwill over its useful life. Companies may choose any of the three approaches as long as consistency is maintained from year to year. Question 5 (1 point) Assuming the revised amount and timing of cash flows for an investment can be reasonably determined, the expected loss impairment model uses which discount rate? the investor's internal rate of return either the historical rate or the current market rate the current market rate the historical interest rate