Under ASPE, Which of the Following Statements Best Describes When

question 45

Multiple Choice

Under ASPE, which of the following statements best describes when goodwill should be tested for impairment?

• A) Goodwill should be tested for impairment when events or changes in circumstances indicate that impairment may have occurred.
• B) Goodwill should be tested annually for impairment regardless of the circumstances.
• C) Goodwill should be tested for impairment annually and whenever events or changes in circumstance indicate that impairment may have occurred.
• D) Goodwill should only be tested for impairment when the company follows a policy to amortize its goodwill.