1. Related to asset impairment testing, which requires evaluation at the “reporting unit level” of the entity?

	A.	Goodwill impairment testing under GAAP
	B.	Testing of an intangible asset with an indefinite life under GAAP
	C.	Testing of an intangible asset with a limited life under IFRS
	D.	Goodwill impairment testing under IFRS
	E.	All of the above

2.

Related to depreciation, under what circumstances is a change in accounting estimate appropriate, assuming there has been no change to the asset’s cost basis due to improvements

	A.	Change in depreciation method
	B.	Change in Salvage value
	C.	Change in estimated useful life
	D.	B or C
	E.	A, B, or C

Answer rating: 100% (QA)

ANSWER 1 A Goodwill impairment testing under GAAP US generally accepted accounting principles GAAP require companies to review their goodwill for impa... View the full answer