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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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