Question

Companies should test indefinite life intangible assets at least annually for.

Answer 1

Companies should test indefinite life and intangible assists annually for…


Instead, goodwill and intangible assets that have indefinite useful lives will not be amortized but rather will be tested at least annually for impairment

Answer 2

Answer:Companies should test indefinite life intangible assets at least annually for impairment

Explanation:Intangible assets with an indefinite life span include things like trademarks, brand names, and goodwill. These assets are not amortized, but they are tested for impairment once a year or whenever there is a sign that they might be impaired. The asset's fair value and carrying amount are compared during impairment testing. A write-down of the asset's value may be required if the carrying amount exceeds the fair value of the asset.