In the Context of Their Roles in Taking Care of Children

question 69

Multiple Choice

In the context of their roles in taking care of children, which of the following is a difference between parents and grandparents?

• A) Grandparents spend relatively less time in recreational activities than parents.
• B) Grandparents spend a lower proportion of their time taking care of children while parents spend a higher proportion of their time taking care of children.
• C) Grandparents usually bear the primary responsibility of taking care of children while parents bear the secondary responsibility of taking care of children.
• D) Grandparents are limited socially with the arrival of grandchildren while parents have more time with the arrival of children.

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Definitions:

Recoverable Amount

The higher of an asset’s fair value less costs of disposal and its value in use.

Cash-Generating Unit

The minimal identifiable collection of assets that produces cash flows mostly independent from those generated by other assets or collections of assets.

Impairment Loss

A decrease in the recoverable value of an asset below its carrying amount, prompting a write-down of the asset's value on the financial statements.