An impairment loss is recorded when:
✓ Correct Answer: Option B
Impairment: when carrying value > recoverable amount, write down to recoverable amount. For goodwill: annual impairment test (ASC 350). For long-lived assets: triggered by indicators.
Impairment: when carrying value > recoverable amount, write down to recoverable amount. For goodwill: annual impairment test (ASC 350). For long-lived assets: triggered by indicators.