For Private Enterprises That Have Acquired Goodwill in a Business

Multiple Choice

For private enterprises that have acquired goodwill in a business combination, which of the following is considered a change of circumstances for purposes of testing for goodwill impairment?

A) A large unfavourable income tax reassessment
B) Sale of a capital asset for a small loss
C) A major competitor has ceased operations
D) Retirement of the subsidiary's operations manager