According to International Financial Reporting Standards, the level of testing for goodwill impairment is the:
A)Reporting unit.
B)Subsidiary companies.
C)Cash-generating unit.
D)None of the above.

Question

Quizplus · Accepted Answer

Under IFRS, goodwill impairment is tested at the level of the cash-generating unit (CGU), which is the smallest identifiable group of assets that generates cash inflows largely independent of other assets.

According to International Financial Reporting Standards, the Level of Testing