The Economic Value of a Tangible Asset May Decline Below

Multiple Choice

The economic value of a tangible asset may decline below its book value but an impairment loss would not be recognized when the

A) undiscounted future cash flows exceed its book value.
B) undiscounted future cash flows exceed its market value.
C) discounted future cash flows exceed its book value.
D) discounted future cash flows exceed its market value.
E) discounted future cash flows exceed its liquidation value.