On August 1, 2011, Wei Inc

question 64

Multiple Choice

On August 1, 2011, Wei Inc.purchased a license with a cost of HK$8,424,000 and a useful life of 10 years.At December 31, 2013, when the carrying value of the asset was HK$6,388,200, the company determined that impairment indicators were present.The fair less costs to sell the license was estimated to be HK$5,909,120.The asset's value-in-use is estimated to be HK$6,084,000.Wei's 2013 income statement will report Loss on Impairment of

• A)HK$109,300.
• B)HK$304,200.
• C)HK$299,425.
• D)HK$1,272,500.

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Definitions:

Interracial

Pertaining to relationships or marriages between people of different racial backgrounds.

Intraracial

Pertaining to relationships or interactions that occur within the same racial group.

Victim-precipitated

Victim-precipitated refers to situations in which a victim’s actions or behavior contribute to the occurrence of a crime against them.

Acquaintance Rape

Sexual assault committed by someone the victim knows, such as a friend, coworker, or classmate, as opposed to a stranger.