Maple Inc Has the Following Information Regarding Its Assets What Amount of Loss Should Be Recorded Due to Asset

question 62

Multiple Choice

Maple Inc. has the following information regarding its assets: $$\begin{array} { | l | l | l | l | } \hline & \begin{array} { l } \text { Book } \\\text { Value }\end{array} & \begin{array} { l } \text { Estimated } \\\text { Cash Flows }\end{array} & \begin{array} { l } \text { Fair } \\\text { Value }\end{array} \\\hline \text { Equipment } & \$ 35,000 & \$ 30,000 & \$ 28,000 \\\hline \text { Building } & \$ 68,000 & \$ 70,000 & \$ 65,000 \\\hline \text { Patent } & \$ 30,000 & \$ 34,000 & \$ 32,000 \\\hline\end{array}$$ What amount of loss should be recorded due to asset impairments?

• A) $10,000
• B) $9,000
• C) $8,000
• D) $7,000

---

Definitions:

Sherman Act

A foundational United States antitrust law enacted in 1890 to prevent anti-competitive practices, monopolies, and to promote fair competition for the benefit of consumers.

Securities Regulation

The body of laws and rules governing securities, including issuing, trading, and disclosures to protect investors and ensure fair markets.

Foreign Markets

Markets outside a company's home country where it conducts or seeks to conduct business.

Anti-Fraud Provisions

Regulatory measures designed to prevent deceit or fraud, especially in financial transactions or securities.