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Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles? A. Even if the fair value of the intangible is less
- Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles?
| A. | Even if the fair value of the intangible is less than its book value, it is possible that no impairment loss will be reported. |
| B. | Impairment loss always equals the difference between book and fair value of the intangibles, if book value exceeds fair value. |
| C. | No impairment testing is necessary if it is more likely than not that the intangibles are not impaired. |
| D. | The impairment loss is calculated as the difference between fair value and original cost. |
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