The Fair Value of Net Identifiable Assets Exclusive of Goodwill

question 40

Multiple Choice

The fair value of net identifiable assets exclusive of goodwill of a reporting unit of X Company is $300,000. On X Company's books, the carrying value of this reporting unit's net assets is $350,000, including $60,000 goodwill. If the fair value of the reporting unit is $335,000, what amount of goodwill impairment will be recognized for this unit?

• A) $0
• B) $10,000
• C) $25,000
• D) $35,000

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Definitions:

Drive Carelessly

The act of operating a vehicle without regards to safety, rules, or conditions, often leading to accidents or hazards.

Safety Options

Features or measures implemented to enhance the security and reduce the risk of harm in various contexts, such as in products, workplaces, or public spaces.

Economic Way

A perspective that involves analyzing decisions based on cost-benefit considerations and the efficient allocation of resources.