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Under Private-Entity GAAP, to Determine If There Is an Impairment

Question 4

Multiple Choice

Under private-entity GAAP, to determine if there is an impairment loss:


A) Compare the fair value of the identifiable assets to the book value of the assets
B) Compare the fair value of the reporting unit against the carrying value of the reporting unit
C) Compare the imputed current fair value of goodwill with the carrying value of goodwill
D) Compare the imputed carrying value of the assets with the fair value of the assets

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