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 with an indefinite life 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.
D) If any impairment occurs, the company records a loss in the period in which the intangible asset was acquired.
You might also like to view...
Corporate board members must make a diligent effort when making decisions. This is called the ______.
A. duty of loyalty B. duty of independence C. duty of care D. duty of commitment
NuStores accepts a shipment of QuikView-brand 3D HD DVD players from Open-Ur-Eyes, Inc. NuStores later discovers a defect in the players, revokes acceptance, and returns the players via Playback, Inc. During the return, the players are lost. The loss is suffered by
A. NuStores. B. Playback. C. QuikView. D. Open-Ur-Eyes.
Patents are a 20-year legal monopoly
Indicate whether the statement is true or false
The coordination and sharing of information and resources to jointly manage a process is referred to as:
A. Differentiation B. Process integration C. Simplification D. Reverse logistics