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How often should goodwill acquired in a business combination be tested for impairment?

a. Every year b. Whenever there are external indications of impairment c. Whenever there are internal indications of impairment d. Never

Team Management Financial Management
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Question added by Deleted user
Date Posted: 2013/08/28
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Ayaz Ali
by Ayaz Ali , Financial Controller , Gul Ahmed Electric Limited & Metro Wind Power Limited

Answer is a)

Intangible assets with indefinite life should also be test annually for impairment.

For other assets , when there is indication of impairment.

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