15 Which circumstance leads to an impairment? A significant decrease in an asset's fair value A future net cash flow that is significantly greater than anticipated The presence of significantly fewer competitors than anticipated A significant reduction in the expected cost of acquiring an asset

16 Impairment occurs when the estimated future cash flows from a long-lived asset are greater than the asset’s book value. Group startsTrue or False

Which of the following situations indicates that an asset is impaired?a. The net book value of the asset is less than the asset’s estimated future cash flows.b. The net book value of the asset is more than the asset’s estimated future cash flows.c. The fair market value of the asset is less than the asset’s net book value.d. The fair market value of the asset is more than the asset’s net book value.

9 - When identifying undervalued and overvalued assets, which of the statements below is false?   An asset is properly valued if its estimated rate of return is equal to its required rate of return. An asset is considered overvalued if its estimated rate of return is below its required rate of return. An asset is considered undervalued if its estimated rate of return is above its required rate of return. An asset is considered overvalued if its required rate of return is below its estimated rate of return. All of the above answers are false. None of the above answers is false.

18. An SME measures biological assets at fair value less costs to sell only when fair value is readily determinable without undue cost or effort. True or False

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Which of the following is not likely to be an indicator of possible asset impairment? O evidence of obsolescence or physical damage. O a significant decrease in the asset's market value. O the carrying amount of the entity's net assets is greater than the entity's market capitalization. O costs incurred for asset acquisition or operation are significantly lower than originally expected. WEDNESDAY Save for Later

Which of the following is a CORRECT statement about long-term asset impairment?    A. Under U.S.​ GAAP, an asset that has been written down because of impairment can be written back up if it increases in value in the future.   B. An asset is impaired if the net book value is less than the expected future cash flows.   C. If an asset is​ impaired, the expected future cash flows will exceed the fair value of the asset.   D. If an asset is​ impaired, the impairment loss is the difference between the net book value and the fair value.

The revaluation model for PPE requires?