Intangible assets, such as goodwill, that are not amortized are tested annually for impairment.

Question

Quizplus · Accepted Answer

Intangible assets, such as goodwill, that are not amortized are tested annually for impairment under accounting principles such as GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). This is to ensure that these assets are still worth their recorded value on the company's financial statements.

Intangible Assets, Such as Goodwill, That Are Not Amortized Are