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With respect to goodwill, an impairment a. is a two-step process which first compares book value to fair value at the business reporting unit level.

With respect to goodwill, an impairment

a.

is a two-step process which first compares book value to fair value at the business reporting unit level.
b.

is a one-step process considering the entire firm.
c.

will be amortized over the remaining useful life.
d.

occurs when asset values are adjusted to fair value in a purchase.

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