Question: The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required: Determine the specific citation for accounting for the

The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required: Determine the specific citation for accounting for the following:

When a company assigns goodwill to a reporting unit acquired in a business combination, it must record an impairment loss if the fair value of the reporting unit is less than its carrying value and the carrying value of goodwill is more than the implied value of its goodwill.

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