Rapture,Inc

Multiple Choice

Rapture,Inc.compares the fair value of the reporting unit related to goodwill to the reporting unit's carrying value,including goodwill.The fair value is less than the carrying value.This implies which of the following?

A) that the difference must be reported as impairment expense in the balance sheet.
B) that impairment exists and that goodwill must be written-down.
C) that the goodwill is supported by valid assumptions and may remain.
D) that the impaired value of the goodwill is greater than the implied value of the underlying assets.