How often should goodwill acquired in a business combination be tested for impairment?

a. Every year b. Whenever there are external indications of impairment c. Whenever there are internal indications of impairment d. Never

Question added by Deleted user
Date Posted: 2013/08/28

Upvote (2) Views (6) Followers (2) Answers (1) Report Question

by Ayaz Ali , Financial Controller , Gul Ahmed Electric Limited

Answer is a)

Intangible assets with indefinite life should also be test annually for impairment.

For other assets , when there is indication of impairment.

In a business combination consummated on January 1, Year 1, Wright acquired an intangible asset.
Top Answer: one Hundred Thousand amortization See More

Answers (2)
What do business combinations mean?
Top Answer: <p>business combination is a situation when2 firms merge to form one. it can be an equal merger or ... See More

Answers (1)
As an administrative , which you would prefer more , external training or internal training ?
Top Answer: It all depending upon the need however if specialty is available -house then no need to go out otherwise ... See More

Answers (17)
What characteristics are necessary in a penetration testing company?
Top Answer: When choosing a penetration testing companies, there are a number of characteristics that you should look ... See More

Answers (1)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.