Which of the Following Is Not a Required Disclosure Requirement

question 107

Multiple Choice

Which of the following is not a required disclosure requirement for long-term asset impairment under both U.S. GAAP and IFRS?

• A) the events and circumstances that led to the recognition of the impairment
• B) the method used to estimate the fair value of the asset
• C) the amount of any impairment loss reversal if not separately disclosed in the income statement
• D) the asset that was impaired

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Definitions:

Federal Law

Legislation that is enacted by the national government and applies throughout the country, overriding state and local laws where there is conflict.

Public Nuisance

An act or omission that obstructs, damages, or inconveniences the rights of the community or public.

Unreasonable Manner

Acting or behaving in a way that is not sensible, fair, or rational, often leading to negative consequences or judgments.

Deadly Force

The use of force that is likely to cause, or intended to cause, death or serious bodily harm.