Any goodwill arising on a business combination is required to be tested at least annually for impairment.This requirement arises from the operation of:
A) AASB116 Property Plant and Equipment
B) AASB3 Business Combinations
C) AASB138 Intangible Assets
D) AASB 136 Impairment

Question

Quizplus · Accepted Answer

The requirement for annual impairment testing of goodwill arising on a business combination is set out in AASB 136 Impairment.

Any Goodwill Arising on a Business Combination Is Required to Be