FASB update of Entertainment-Films-Other Assets-Film Costs No 2019-02 provides that unamortized film costs shall be tested for impairment when events of changes in circumstances indicate a fair value of the film may be less than its unamortized cost. Which of the following is NOT example of changes in circumstances?
FASB update of Entertainment-Films-Other Assets-Film Costs No 2019-02 provides that unamortized film costs shall be tested for impairment when events of changes in circumstances indicate a fair value of the film may be less than its unamortized cost. Which of the following is NOT example of changes in circumstances?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 4C
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Question 7
FASB update of Entertainment-Films-Other Assets-Film Costs No 2019-02 provides that unamortized film costs shall be tested for impairment when events of changes in circumstances indicate a fair value of the film may be less than its unamortized cost. Which of the following is NOT example of changes in circumstances?
A. |
Actual costs are substantially in excess of budgeted costs |
|
B. |
Substantial delays in completion or release schedules |
|
C. |
An adverse change in the expected performance of a film prior to release |
|
D. |
all of the answers provided are examples of changes in circumstances. |
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