Under US Accounting Rules (Generally Accepted Accounting Principles), an Asset Is

question 121

Multiple Choice

Under U.S. accounting rules (generally accepted accounting principles) , an asset is impaired when

• A) The asset's fair value is less than the book value
• B) The asset's future cash inflows are less than the book value
• C) The asset's market value is less than the book value
• D) The asset's cost is less than the book value

---

Definitions:

Brain

The organ located in the head of an animal that coordinates its behavior and processes sensory information; it's the center of the nervous system in humans and other vertebrates.

Information

Data, knowledge, or details that are provided or learned about something or someone.

Culture

The collective beliefs, practices, traditions, art, history, folklore, and societal structures belonging to a community of individuals.

Business

The practice of engaging in commercial, industrial, or professional activities with the aim of generating revenue and profit.