1. Related to asset impairment testing, which requires evaluation at the reporting unit level of the entity?...
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Question:
1. Related to asset impairment testing, which requires evaluation at the “reporting unit level” of the entity?
A. | Goodwill impairment testing under GAAP | |
B. | Testing of an intangible asset with an indefinite life under GAAP | |
C. | Testing of an intangible asset with a limited life under IFRS | |
D. | Goodwill impairment testing under IFRS | |
E. | All of the above |
2.
Related to depreciation, under what circumstances is a change in accounting estimate appropriate, assuming there has been no change to the asset’s cost basis due to improvements
A. | Change in depreciation method | |
B. | Change in Salvage value | |
C. | Change in estimated useful life | |
D. | B or C | |
E. | A, B, or C |
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1285190907
8th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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