Use the Following Information for Questions

question 83

Multiple Choice

Use the following information for questions.
On January 1, 2011, Dillman Inc.purchased a patent with a cost €3,480,000, a useful life of 5 years.The company uses straight-line depreciation.At December 31, 2012, the company determines that impairment indicators are present.The fair value less costs to sell the patent is estimated to be €1,620,000.The patent's value-in-use is estimated to be €1,695,000.The asset's remaining useful life is estimated to be 2 years.
-Bingham's 2012 income statement will report Loss on Impairment of

• A)€0.
• B)€393,000.
• C)€468,000
• D)€1,695,000

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Definitions:

Autonomic

Pertaining to the autonomic nervous system that controls involuntary bodily functions such as heartbeat and digestion.

Nervous System

The network of nerve cells and fibers that transmits signals between different parts of the body, coordinating actions and sensory information.

Brain-Damaged Patients

Individuals who have experienced injury to the brain, which can result in a wide range of impairments in cognitive function, motor skills, and emotional behavior.

Emotional Intelligence

A capacity for recognizing our own feelings and those of others, for motivating ourselves, and for managing emotions well in ourselves and in our relationships.