Amortisation ruled out

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please reread the article before attempting the questions again

  1. What is the current approach for goodwill?

  2. Which of these is an issue relating to the current situation surrounding goodwill impairment?

  3. Which, if any, of the following statements are true regarding the IASB's decisions regarding goodwill? Statement 1, The amortisation of goodwill will not be reintroduced, or Statement 2, The project will move forward to the standard-setting phase

  4. Which of these is identified as a problem associated with goodwill impairment?

  5. What is the new name for the goodwill and impairment project?

  6. What is a tentative proposal regarding disclosures relating to goodwill?

  7. Which of the following issues were noted in respect of reintroducing goodwill amortisation?

  8. Which of these is proposed in terms of disclosures relating to goodwill? Proposal 1, disclosing the strategic rationale for undertaking the business combination, or Proposal 2, disclosing quantitative information about expected synergies

  9. Which of the following items does not currently need an annual impairment review?

  10. Which, if any, of the following statements is correct? Statement 1, The proposed disclosures include identifying 'strategically important' business combinations, or Statement 2, A business combination is 'strategically important' if its profit is more than 5 percent of the acquirer’s profit

1 Unit