Useful Methods to Evaluate Asset Impairment of Long-Lived Assets Usually

question 41

Multiple Choice

Useful methods to evaluate asset impairment of long-lived assets usually would not include which of the following?

• A)current market values of similar assets.
• B)estimated future economic benefits to be derived from the asset.
• C)an independent assessment of the value of the asset.
• D)all of the above are useful in valuing impairment.

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Definitions:

Draft

A system of compulsory recruitment for military service.

League Covenant

The founding document of the League of Nations, outlining its principles and structure for maintaining world peace post-World War I.

Collective Security

An international agreement for mutual defense, where participating countries pledge mutual aid and protection in case any member is attacked.

World Court

Informally known as the International Court of Justice, it's the principal judicial organ of the United Nations, tasked with settling legal disputes between states.