1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sattari [20]
3 years ago
10

If both an asset group and goodwill in one of a company's reporting units have to be tested for impairment, which of the followi

ng statements is correct regarding impairment testing and impairment losses?A. The other asset group should be tested for an impairment loss before goodwill is tested.B. Impairment testing may be conducted concurrently for the other asset group and goodwill.C. If the other asset group is impaired, the loss should not be recognized prior to goodwill beingtested for impairment.D. If goodwill is impaired, the loss should be recognized prior to testing the other assets for impairment.
Business
1 answer:
irga5000 [103]3 years ago
3 0

Answer: A. The other asset group should be tested for an impairment loss before goodwill is tested.

Explanation:

According to the IFRS standards, it is important and necessary to revalue your assets according to their net realizable value, i.e, assets should be reported after deducting accumulated depreciation or amortization in the case of goodwill. In the case of inventory, NRV should be calculated by estimating impairments.

The other asset groups are tested to check for impairment loss and later the goodwill is tested.  

You might be interested in
Question 3 of 10
Stels [109]

Answer:

underrepresented student scholarship.

7 0
2 years ago
Read 2 more answers
The discount rate is the interest rate charged by:_______.
disa [49]

Answer:

B

Explanation:

I believe it is the interest rate the federal reserve uses for loaning to banks. Its the minimal rate, also.

5 0
3 years ago
Three partners are investing a total of 250,000 in a new cell phone repair shop.their investments are in the ratio of 3:5:12.how
Dahasolnce [82]
Let say A,B&C and the ratio is 3:5:12
3+5+12=20
250000divide by 20 = 12500
12500x3=37500
12500x5=62500
12500x12=150000
So A invested 37500
B invested 62500
C invested 150000
8 0
3 years ago
​small businesses are hesitant to involve in global business because it:
7nadin3 [17]
<span>Small businesses are hesitant to involve in global business because it involves various trade laws or tariffs. Taking that kind of plunge in the business world for a business of small scale is risky situation or at least the small business owners feel. Sometimes this would be the turning point for these businesses to break out huge.</span>
4 0
3 years ago
The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end,
nydimaria [60]

Answer: $186,000

Explanation:

January is the 2nd month from November which means that all of November's $31,000 will be collected in January.

January is the first month after December so 30% of December sales should be collected in January. 50% has already been collected in December and this left $50,000.

Total credit sales in December must have been:

= 50,000 / 50%

= $100,000

Amount to be collected in January for December:

= 100,000 * 30%

= $30,000

Amount to be collected from January credit sales:

= 50% * 150,000

= $75,000

January cash sales = $50,000

Total cash in January :

= 31,000 + 30,000 + 75,000 + 50,000

= $186,000

4 0
3 years ago
Other questions:
  • What is the four parts of SWOT analysis
    9·1 answer
  • Demand for an electric fan is related to its selling price p (in dollars) by the equation n = 3680 − 80 p where n is the number
    10·1 answer
  • Both Bond Bill and Bond Ted have 5.8 percent coupons, make semiannual payments,
    5·1 answer
  • Suppose a new website was launched providing up-to-date, credible information on all firms wishing to issue bonds. What would yo
    12·1 answer
  • Michael has written an e-mail to his employees that describes a new product special that will be introduced to the
    6·2 answers
  • Winston Company estimates that the factory overhead for the following year will be $1,159,400. The company has decided that the
    9·1 answer
  • A firm has a Cobb-Douglas production function for its inputs of capital and labor. The firm is currently paying $4 per labor hou
    12·1 answer
  • Having decided what secondary sources you will use, you now need to decide whether you elect to use any primary sources for obta
    15·1 answer
  • Which topic would a macroeconomist most likely study? a. Supply and demand b. Production costs C. Inflation d. Labor markets​
    7·1 answer
  • Post Company lends Blue Company $40,000 on April 1, accepting a 4 month, 4.5% interest note. Post Company prepares financial sta
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!