When Must a Company Must Include Disclosures Concerning the Write

question 8

Multiple Choice

When must a company must include disclosures concerning the write down of an impairment?

• A) In the year of the write down only.
• B) In the year of the write down and the subsequent year.
• C) In the year of the write down and the next two years.
• D) In the year of the write down and the next three years.

---

Definitions:

Fraudulently Induces

Fraudulently induces refers to the act of deceitfully convincing someone to act, usually to enter into a contract, by misrepresenting material facts or by concealment.

Common Law

A collection of legal principles established by judicial decisions, instead of being formulated through legislative processes or documented in formal statutes.

Statutory Law

Laws enacted by a legislative body, such as Congress or a state legislature, that governs society and is codified in statutes.

Predominant Purpose Test

A legal test used to determine whether a contract is primarily for the sale of goods or the provision of services under the Uniform Commercial Code.