Which of the following assets generally is required to be tested at least annually for impairment?
A) Machinery
B) Patent
C) Renewable broadcast license
D) Copyright

Question

Quizplus · Accepted Answer

Renewable broadcast license is an intangible asset with an indefinite life and needs to be tested for impairment at least annually. Machinery, patent, and copyright are tangible or intangible assets with a determinable life and should be tested for impairment only when there are indications of impairment.

Which of the Following Assets Generally Is Required to Be