When Must a Company Recognize an Impairment Loss

Multiple Choice

When must a company recognize an impairment loss?

A) If the fair value of the total discounted cash flows is less than the book value.
B) If the total discounted cash flows is less than the fair value.
C) If the total undiscounted cash flows is less than the book value.
D) If the total undiscounted cash flows is less than the fair value.