In Determining Whether Goodwill Should Be Tested for Impairment, Companies

question 17

True/False

In determining whether goodwill should be tested for impairment, companies and their management consider qualitative factors second, after performing a quantitative test for impairment.

---

Definitions:

Philosophical Traditions

Established schools of thought or methodologies in philosophy that have developed over time, encompassing diverse perspectives on reality, existence, knowledge, values, and reason.

Mental

Pertains to processes of the mind or psychological states.

Spiritual Characteristics

Qualities or attributes pertaining to the spirit or soul, often associated with deep values and meanings in life.

Passions

Intense, driving, or overwhelming feelings or emotions that significantly influence human behavior and decision-making.