Under IFRS, Which of the Following Statements Best Describes When

question 28

Multiple Choice

Under IFRS, 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 circumstance 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.

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Definitions:

Catheters

Tubes that can be inserted into the body to treat diseases or perform a surgical procedure.

Stents

Tubular support devices inserted into blood vessels, canals, or ducts to keep the passageway open.

Film

A thin layer or coating, or a series of still images on celluloid or similar material, that when shown in succession creates the illusion of motion.

Through Body

Pertains to a process or movement happening from one side of the body to the other or affecting the entire body.