On December 31, 2021, CA Inc

question 97

Multiple Choice

On December 31, 2021, CA Inc. had a machine with an original cost of $20,000 and accumulated depreciation of $5,000. An impairment test on that date indicated that the machine had a value in use of $12,000 and a fair value of $10,000 (no disposal costs) . What impairment loss is recorded for fiscal 2021?

• A)$3,000
• B)$5,000
• C)$8,000
• D)$10,000

Identify the key organizations involved in the certification and accreditation of automotive professionals and training programs.

Recognize the necessary skills and knowledge required for various positions in the automotive industry, such as parts counter personnel, service advisors, and technicians.

Grasp the importance of ongoing technical training and support for automotive professionals.

Differentiate between technical schools and community colleges in terms of automotive training.

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Definitions:

Securities Trade

The buying and selling of financial instruments such as stocks, bonds, and mutual funds.

Fixed Cost

Costs that do not vary with the volume of output or sales, such as rent, salaries, and insurance premiums.

Target Cash Balance

The optimal amount of cash that a company aims to maintain to handle its operational and transactional needs.

Carrying Costs

The total expenses associated with holding or maintaining an asset over time, including storage, insurance, and taxes.