Which of the Following Is a CORRECT Statement About Long-Term

question 168

Multiple Choice

Which of the following is a CORRECT statement about long-term asset impairment?

• A)An asset is impaired if the net book value is less than the expected future cash flows.
• B)If an asset is impaired,the expected future cash flows will exceed the fair value of the asset.
• C)Under U.S.GAAP,an asset that has been written down because of impairment can be written back up if it increases in value in the future.
• D)If an asset is impaired,the impairment loss is the difference between the net book value and the fair value.

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