A loss on impairment of an intangible asset is the difference between the asset's

Question

Quizplus · Accepted Answer

A loss on impairment of an intangible asset is recognized when the carrying amount of the asset exceeds its fair value. The carrying amount is the cost of the asset less accumulated amortization and any impairment losses previously recognized. The fair value is the amount that the asset could be sold for in an arm's length transaction between knowledgeable and willing parties.

A Loss on Impairment of an Intangible Asset Is the Difference