What Should an Entity Evaluate When Making an Initial Impairment

question 53

Essay

What should an entity evaluate when making an initial impairment assessment of an intangible asset (other than goodwill)?

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Definitions:

Type D Personality

A personality type characterized by high levels of stress, negativity, and the tendency to experience uncomfortable emotions.

Internal Locus

A psychological concept referring to individuals who believe they have control over their life events and outcomes.

Locus of Control

A psychological concept referring to the extent to which individuals believe they have control over the outcomes of events in their lives.

Intellectual Incompetence

A lack of intellectual capabilities to perform tasks or understand concepts that are typically within the average person's ability.