QUESTION 7 Which of the following statements regarding intangible assets is false? When the purchaser in a business combination pays less then the fair value of the identifiable net assets, it is referred to as a bargain purchase Goodwill is recorded when one company acquires another company for more than the fair market value of the identifiable not assets received If a limited life intangible asset is impaired amortization exponse does not need to be recalculated the asset is held for use o When checking a trademark with an indefinite life for impairment the fair value test is only used