Which of the Following Statements About Asset Impairment Is Correct

Multiple Choice

Which of the following statements about asset impairment is correct?

A) Asset impairment losses appear on a company's income statement every year.
B) When a company records an asset impairment loss,it will increase net income for that period.
C) Impairment occurs when an asset's book value is less than its current value.
D) Asset impairment losses are reported on the income statement as an operating expense.