Recovery of impairment is recognized for all the following except
A) Patent held for sale.
B) Patent held for use.
C) Trademark.
D) Goodwill.

Question

Quizplus · Accepted Answer

Recovery of impairment is recognized for assets like patents (whether held for sale or use) and trademarks, as their value can increase over time due to various factors. However, for goodwill, once an impairment loss has been recognized, it cannot be reversed in subsequent periods. This is because goodwill impairment reflects a permanent decrease in the value of the acquired business.

Recovery of Impairment Is Recognized for All the Following Except