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.

---

Definitions:

Anxiety Disorders

A group of mental health disorders characterized by significant and persistent anxiety and fear, often impacting daily functioning.

Later Life

Refers to the period in an individual's life typically associated with retirement and an increased likelihood of health-related issues due to aging.

Long-term Inpatient Care

Medical or psychiatric treatment that requires a patient to stay in a hospital or clinic for an extended period.

Alzheimer's Disease

Alzheimer's Disease is a progressive neurological disorder characterized by memory loss, cognitive decline, and personality changes, leading to severe mental impairment.