The Fair Value of Net Identifiable Assets of a Reporting

question 56

Multiple Choice

The fair value of net identifiable assets of a reporting unit of Y Company is $270,000.The carrying value of the reporting unit's net assets on Y Company's books is $320,000,including $50,000 goodwill.If the reported goodwill impairment for the unit is $10,000,what would be the fair value of the reporting unit?

• A) $320,000
• B) $310,000
• C) $270,000
• D) $290,000

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