The Mello-Roos Community facilities Act is related to:

Regarding impairment of intangible assets, which of the following statements is incorrect?

A) Impairment occurs when the fair value of an intangible asset is less than the book value. B) Intangible assets are impaired when there has been a permanent decline in the value of the asset. C) Intangible assets are tested for impairment annually. D) If any impairment occurs, the company records a loss in the period in which the intangible asset was acquired.

Dexter, a calendar-year, cash-basis taxpayer who died in May of the current year, was entitled to receive an $8,000 accounting fee that had not been collected before the date of death. The executor of Dexter's estate collected the full $8,000 in August of the current year. This $8,000 should appear in

A. Only the decedent's final individual income tax return. B. Only the estate's fiduciary income tax return. C. Only the decedent's estate tax return. D. Both the fiduciary income tax return and the estate tax return.