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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Definitions:

Approach Motivation

Describes the drive toward positive stimuli or outcomes, typically associated with the desire to achieve a specific goal.

Recognition

The process through which an entity is identified or acknowledged for what it is based on certain characteristics or by comparison with known entities.

State Finals

The ultimate or final competition or exam at the state level in various contexts such as sports, academics, or other competitive fields.

Self-actualization

Fulfilling one's inherent capabilities and talents, perceived as an essential aspiration or imperative present in everybody.