Jo Jo Chong, Inc $\begin{array}{cc} & \text {Recoverability Test} &\text { Fair Value Test }\\\end{array}$

Multiple Choice

Jo Jo Chong, Inc. needs to determine if its property, plant, and equipment has been impaired and should be reduced or written off on its balance sheet. The impairment test(s) to be used is (are) : $\begin{array}{cc} & \text {Recoverability Test} &\text { Fair Value Test }\\\end{array}$

A) $\begin{array}{cc} &&& \text {Yes }&&&&&&\text { Yes} \\\end{array}$
B) $\begin{array}{cc} &&& \text {Yes} &&&&&&& \text {No} \\\end{array}$
C) $\begin{array}{cc} &&&\text { No} &&&&&&&\text { Yes} \\\end{array}$
D) $\begin{array}{cc} &&&\text { No} &&&&&&& \text {No} \\\end{array}$