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nordsb [41]
3 years ago
11

Consider the following information about an asset that is being review for impairment: Book value $ 700,000 Estimate future cash

flows 650,000 Fair value 590,000 What is the amount of the impairment loss for this asset?
Business
1 answer:
erastovalidia [21]3 years ago
3 0

Answer:

The amount of the impairment loss for this asset is <u>$110,000</u>

Explanation:

A assets is impaired when the fair market value of that assets lowers than the book value of the asset.

To calculate the impairment of an assets following formula is used

Impairent = Book value of Asset -  fair market value of the asset

Placing values in the formula

Impairent = $700,000 -  $590,000

Impairent = <u>$110,000</u>

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Which of the following statements is not true about shareholders?
s2008m [1.1K]

Answer:

They own equal shares of company assets.

Explanation:

The statement above is false because shareholders can own vastly different amounts of shares.

For example, a group of 2 people and 5 companies own over 50% of the shares of Alphabet (the corporation that owns Google), giving this small group of people the voting power to take decisions during assemblies.

Meanwhile, thousands of investors also own a small number of shares of Alphabet because it is a publicly traded company, but these small investors have essentially no voting power.

5 0
3 years ago
A closed economy a. does not engage in international trade of goods and services. b. does not engage in international borrowing
Vinvika [58]

Answer:

The correct option is C,both A and B

Explanation:

A closed economy is not opened to the idea of international trade, where its surplus commodities can be traded with other nations of the world in order to earn foreign exchange while at the same procuring from trading partners products required by its nationals not available at all in the economy or the ones that are not available in the required quantity.

A closed economy also  assumes itself to be sufficient in the area of fiscal policy management by not engaging in international borrowing or lending arrangements.

5 0
3 years ago
Which of the following can increase your credit card’s APR
poizon [28]

Paying off the full balance.

 As a guidelines, your Credit Card APR will be increased if you are responsible in paying all your credit and show that you are a good user.

3 0
3 years ago
What effect will firms entering have on the market​ price? When firms enter ​, A. the marginal cost of production will decrease
Vitek1552 [10]

Answer:

b

Explanation:

when firms enter into an industry, there are more firms competing for customers. This would shift the demand curve to the right as supply increases. An increase in supply would lead to a reduction in price.

If firms leave the industry, there would be a reduction in supply and price would increase

3 0
3 years ago
Which of the following statements is false?
ella [17]

Answer: D

Explanation:

Not necessarily. As long as the company follows GAAP (IFRS or ASPE), the format and information should be the same. This is because the accounting standards requires firm to report financial information in a specific way.

3 0
2 years ago
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