Each year intangibles are assessed to estimate the value which is compared to the existing book value in order to determine if impairment must be recorded.

Question

Quizplus · Accepted Answer

This statement is true. Intangibles are assessed for impairment annually to compare their estimated fair value with their book value, and if the fair value is less than the book value, then an impairment loss must be recognized.

Each Year Intangibles Are Assessed to Estimate the Value Which