question archive Evaluation and testing for impairment assessments of indefinite-lived intangible assets: Multiple Choice requires a two-step process to be completed for all impairment assessments
Evaluation and testing for impairment assessments of indefinite-lived intangible assets: Multiple Choice requires a two-step process to be completed for all impairment assessments
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Evaluation and testing for impairment assessments of indefinite-lived intangible assets:
Multiple Choice
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requires a two-step process to be completed for all impairment assessments.
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follows the same process as required for impairment evaluation and testing for tangible assets.
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requires a quantitative impairment test if, after a qualitative assessment, it is more likely than not that the asset is impaired.
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requires only assessment of qualitative factors.
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Answer:
Quantitative impairment can be done by performing qualitative assesment if impairement is not likely for indifinite lived intengible assets. If qualitative assesment indicates that the carrying value is more than the fair value, qualitative assesment is still required to be performed.
Hence, requires a quantitative impairment test if, after a qualitative assessment, it is more likely than not that the asset is impaired. is correct option
