Question: Which observation concerning goodwill is NOT correct under US GAAP? Group of answer choices It must be reported as a separate line item in the

Which observation concerning "goodwill" is NOT correct under US GAAP?
Group of answer choices
It must be reported as a separate line item in the balance sheet.
It must be tested at least annually for impairment either qualitatively and/or quantitatively.
Goodwill must be amortized over the course of 40 years.
Goodwill impairment losses are recognized in income.

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