Question: When should a consolidated entity recognize a goodwill impairment loss? a. When the fair value of a reporting unit exceeds its respective carrying amount b.

When should a consolidated entity recognize a goodwill impairment loss?

a. When the fair value of a reporting unit exceeds its respective carrying amount

b. Whenever the entity’s fair value declines significantly

c. When the fair value of a reporting unit with goodwill falls below its carrying amount

d. Annually on a systematic and rational basis

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