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    Question

    Which is true about goodwill under Ind

    AS?
    A Goodwill is amortised over maximum 20 years always Correct Answer Incorrect Answer
    B Goodwill is not amortised; tested annually for impairment Correct Answer Incorrect Answer
    C Goodwill is treated as current asset Correct Answer Incorrect Answer
    D Goodwill is expensed immediately when acquired Correct Answer Incorrect Answer

    Solution

    Under Ind AS, goodwill is not amortized. Instead, it is tested for impairment at least annually, or more frequently if there is an indication of impairment.

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