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    Question

    Under Ind AS, impairment of an asset

    requires:
    A Annual impairment test for cash-generating units only if indicators present (except goodwill) Correct Answer Incorrect Answer
    B No impairment testing for any asset Correct Answer Incorrect Answer
    C Annual impairment testing for goodwill and indefinite-life intangibles; other assets tested when indicators exist Correct Answer Incorrect Answer
    D Impairment recognized in equity only Correct Answer Incorrect Answer
    E Impairment always recovered through OCI Correct Answer Incorrect Answer

    Solution

    Ind AS requires annual test for goodwill/indefinite life intangibles; others when impairment indicators exist.

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