Once an asset has been determined to be impaired, the amount of impairment is measured as: The asset's cost minus the fair value The asset's future cash inflows minus the book value The asset's book value minus the fair value The asset's cost minus the book value
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- Under the impairment of assets, value-in-use is * a. The undiscounted present value of future cash flows arising from the continuing use of the asset and from its disposal. b. The discounted present value of future cash flows arising from the continuing use of the asset and from its disposal. c. The higher of an asset's fair value less cost to sell and its market value d. The amount at which the asset is recognized in the statement of financial positionA 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.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.
- which of the following statements in relation to the cost of the asset is true? A. all of the statements are true B. The cost includes cash equivalent paid C. The cost includes the fair value of any non monetary consideration given to acquire an asset D. The cost includes nonrefundable purchase taxesWhat is the 'carrying amount of a depreciating non-current asset? O A. The cost (or fair value) of the asset less the accumulated depreciation on that asset O B. The current market value of the asset C. The cost (or fair value) of the asset less the current year's depreciation O D. The cost (or fair value) of the assetWhat is an impairment loss? A ) The amount by which the carrying amount of an asset exceeds the book value B ) The amount by which the carrying amount of an asset exceeds the recoverable amount C ) The difference between the fair value of an asset and the net realisable value of the asset D ) The amount by which the market value of an asset exceeds the net present value
- Under IAS 36, which of the following is a recoverable amount? Historical cost of the asset Carrying amount of the asset Present value of future cash flows generated by the asset O Original purchase price of the assetHow is the amortized cost for a financial asset calculated? O Amount of original recognition of the asset plus interest earned till date less repayments received till date O Amount of original recognition of the asset plus interest earned till date Amount of original recognition of the asset Manju Fair value of the asset he ProblemsThe impairment test for goodwill is conducted based on the cash-generating unit to which the goodwill has been assigned. After an impairment loss is recorded for goodwill, the recoverable amount becomes the basis for the impaired asset and is used to calculate amortization in future periods. options : both statement false first statement true and second statement false fisrt statement false and second statement ttrue . both sttament true
- The difference between book value of the asset with the proceeds received from its sale, will result in:The difference between book value of the asset with the proceeds received from its sale, will resultin Select one a. Always a gain b Depreciable Cost c Cain or loss d. Always a lossResidual value is O a. Present value. O b. Value in use. O c. The net cash amount that is received from the ultimate sale of the asset, at the end of its life. O d. The gross cash amount that is received from the ultimate sale of the asset, at the end of its life.