Advanced Accounting 10th Edition by Thomas Schaefer, Joe Ben Hoyle, Timothy Doupnik

Exercise 18

In 2007 Sprint Nextel Corporation reported a large goodwill impairment loss.Referring to Sprint Nextel's 2007 financial statements and applicable financial reporting standards, answer the following questions:
Certain other indefinite-lived intangibles and other long-lived assets (including intangible assets with a finite life) are also subject to impairment assessment.Did Sprint Nextel incur any of these impairment charges in 2007 Explain briefly when and how Sprint Nextel tests these assets for impairment.