Regular Corp

question 29

Multiple Choice

Regular Corp. has four divisions. One of them, Weeble Products, was acquired on January 1, 2016, for $80,000,000, and recorded goodwill of $7,000,000 as a result of that purchase. Weeble Products is considered to be a reporting unit. At December 31, 2017, Weeble Products had a fair value (including goodwill) of $38,000,000, and the book value of the division's net assets (including goodwill) was $46,000,000. What amount of loss on impairment of goodwill should Regular record in 2017?

• A) -0-
• B) $7,000,000
• C) $8,000,000
• D) $15,000,000

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Definitions:

Open Arms

A gesture or attitude of welcoming, accepting, or embracing others warmly and without judgment.

Relaxed

A state of being free from tension and anxiety.

Postural Cues

Nonverbal indicators involving body position and posture that communicate attitudes, feelings, and intentions.

Forward Lean

A body posture or movement indicating interest, engagement, or attentiveness, often used in the context of communication or presentation.