In a Period in Which an Impairment Loss Occurs, SFAS

question 27

Multiple Choice

In a period in which an impairment loss occurs, SFAS No. 142 requires each of the following note disclosures EXCEPT:

• A) a description of the facts and circumstances leading to the impairment.
• B) the amount of goodwill by reporting segment.
• C) the method of determining the fair value of the reporting unit.
• D) the amounts of any adjustments made to impairment estimates from earlier periods, if significant.

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Definitions:

Reliability

The degree to which an assessment, measurement, or process consistently produces the same results under the same conditions.

Job Evaluation System

A method used by organizations to determine the value of a job in relation to other jobs within the organization, often influencing pay and grade.

Factor Definition

The process of identifying and defining the elements or criteria that are important for evaluating or measuring something.

Compensable Factor

A criteria used in job evaluation to determine the value of a job and its appropriate compensation.