Goodwill Has to Be Evaluated for Impairment Once a Year

question 86

True/False

Goodwill has to be evaluated for impairment once a year and not necessarily at the balance sheet date.However,the date for evaluation has to be consistently applied.

---

Definitions:

Process Innovation

The act of implementing new or significantly improved production or delivery methods.

Open Innovation

A business model that encourages sharing ideas and innovations with others outside the organization to accelerate development and leverage external expertise.

Extrinsic Motivation

Motivation that stems from the work environment external to the task; it is usually applied by others.

Innovation

The process of creating, developing, and implementing new ideas, products, or methods to improve or replace existing ones.