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 net assets received.

If a limited life intangible asset is impaired, amortization expense does not need to be recalculated if the asset is held for use.

When checking a trademark with an indefinite life for impairment, the fair value test is only used.