Which of the following statements in regard to goodwill is/are correct in accordance with AASB 136 Impairment of Assets?
A) Goodwill may be amortised when it has a finite life.
B) Goodwill is subjected to impairment testing every three years.
C) Upward revaluation of goodwill is permitted as long as it is a reversal of prior years' impairment losses.
D) None of the given statements are correct.
Correct Answer:
Verified
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