Answer:Companies should test indefinite life intangible assets at least annually for impairment
Explanation:Intangible assets with an indefinite life span include things like trademarks, brand names, and goodwill. These assets are not amortized, but they are tested for impairment once a year or whenever there is a sign that they might be impaired. The asset's fair value and carrying amount are compared during impairment testing. A write-down of the asset's value may be required if the carrying amount exceeds the fair value of the asset.