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