Goodwill has to be evaluated for impairment once a year,as well as on an interim basis at the time events and circumstances warrant.

Question

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Goodwill, which represents the excess of the purchase price over the fair value of net assets acquired in a business combination, must be evaluated for impairment annually and on an interim basis when events or changes in circumstances suggest that the fair value of the reporting unit may be less than its carrying amount.

Goodwill Has to Be Evaluated for Impairment Once a Year,as