Rapture,Inc

question 24

Multiple Choice

Rapture,Inc.compares the fair value of the reporting unit related to goodwill to the reporting unit's carrying value,including goodwill.The fair value is less than the carrying value.This implies which of the following?

• A)that the difference must be reported as impairment expense in the balance sheet.
• B)that impairment exists and that goodwill must be written-down.
• C)that the goodwill is supported by valid assumptions and may remain.
• D)that the impaired value of the goodwill is greater than the implied value of the underlying assets.

Explain the methods for perfecting a security interest, including possession and public filing, and their implications.

Describe the rights of a buyer in the ordinary course of business under the UCC.

Understand the prioritization rules for conflicting security interests, including purchase money security interests (PMSI) and their exceptions.

Comprehend the concept of perfection by attachment and the necessity for public notification in various contexts.