Under US GAAP, If the Carrying Value of a Fixed Asset

question 44

Multiple Choice

Under U.S. GAAP, if the carrying value of a fixed asset was $50,000, the undiscounted expected future cash flows was $55,000, the discounted expected future cash flows was $51,000, and the selling price was $53,000, what is the amount of impairment loss?

• A) $5,000
• B) $3,000
• C) $1,000
• D) $0

---

Definitions:

Average IQ Score

A statistical measure that represents the intelligence quotient of a person, where the norm is typically set at a score of 100.

Men

Adult human males.

Women

Adult human females, who in various contexts and cultures have diverse roles, rights, and experiences.

Birth

The process of childbirth or the moment when a baby comes out from the womb into the outside world.