> > >

Generally Accepted Accounting Principles (GAAP) MCQs

Which of the following is a valid method to calculate impairment loss in case of a long lived asset?

By taking off asset's fair value from it's current market value

By taking off asset's carrying amount from it's fair value

By taking off asset's current market value from it's fair value

By taking off asset's fair value from it's carrying amount

Answer

Correct Answer: By taking off asset's fair value from it's carrying amount

Explanation:

Note: This Question is unanswered, help us to find answer for this one

Generally Accepted Accounting Principles (GAAP) Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it

More Generally Accepted Accounting Principles (GAAP) MCQ Questions

Generally Accepted Accounting Principles (GAAP) Skill Assessment

Your Skill Level: Poor

Retake Quizzes to improve it