Regarding Impairment of Intangible Assets,which of the Following Statements Is

question 93

Multiple Choice

Regarding impairment of intangible assets,which of the following statements is incorrect?

• A)Impairment occurs when the fair value of an intangible asset is less than the book value.
• B)Intangible assets are impaired when there has been a permanent decline in the value of the asset.
• C)Intangible assets are tested for impairment annually.
• D)If any impairment occurs,the company records a loss in the period in which the intangible asset was acquired.