ACC 304 All Assignments ACC 304 All Assignments | Page 219

50. Buerhle Company needs to determine if its indefinite-life
intangibles other than goodwill have been impaired and should be
reduced or written off on its balance sheet. The impairment test(s) to
be used is (are)
Recoverability Test
Fair Value Test
a. Yes Yes
b. Yes No
c No Yes
d. No No
51.
The carrying amount of an intangible is
a. the fair value of the asset at a balance sheet date.