Explain the reasons for the impairment and the justification for treating the write-down as a permanent decline in value of the asset(s). A difference between the book value of plant assets and the fair value generally exists. Explain the role technology and obsolescence have in the impairment of assets.

Discuss the overarching idea of Asset Liability Management and its key objectives. How does the process of Gap Analysis support Asset Liability Management?

A loss on impairment on a limited life intangible asset is the difference between the asset’s Select one: carrying value and its undiscounted expected future net cash flows. fair value and its net realizable value. fair value and its discounted expected future net cash flows. carrying value and its fair value.

What is the purpose of a depletion base? O to regulate the consumption of natural resources O to categorize natural resources for tax purposes O to determine a restoration goal for natural resources O to determine the cost of natural resources to be allocated