Question: With respect to Statement 3, what is the most likely eff ect of the impairment loss? A. Net income in years prior to 2009 was

With respect to Statement 3, what is the most likely eff ect of the impairment loss?

A. Net income in years prior to 2009 was likely understated.

B. Net profit margins in years after 2009 will likely exceed the 2009 net profit margin.

C. Cash flow from operating activities in 2009 was likely lower due to the impairment loss.

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