Question:

How do the impairment tests for indefinite$-$lived intangible assets and definite$-$lived intangible assets differ under US GAAP?

Options:

$1.$ Indefinite$-$lived intangible assets are subject to an annual impairment test because they are not amortized and likely to be overstated.

$2.$ Indefinite$-$lived intangible assets are subject to an annual impairment test, with an optional $$more likely than not$$ threshold.

$3.$ Finite$-$lived intangible assets are not subject to an annual impairment test because they are amortized and less likely to be overstated.

$4.$ Finite$-$lived intangible assets are subject to an annual impairment test because they are not amortized and likely to be overstated.

$5.$ Finite$-$lived intangible assets are subject to an annual impairment test, with an optional $$more likely than not$$ threshold.

$6.$ Finite$-$lived intangible assets are tested for impairment by use of a fair value test and no recoverability test.

$7.$ Indefinite$-$lived intangible assets are tested for impairment by use of both a recoverability test and a fair value test.

$8.$ Finite$-$lived intangible assets are tested for impairment by use of a recoverability test and fair value test.

$9.$ Indefinite$-$lived intangible assets are tested for impairment by use of a fair value test and no recoverability test.