q15 Which of the following are circumstances that may indicate that the asset may be impaired? (i) A motor vehicle has been damaged in an accident (ii) A debtor is in financial difficulty (iii)Consumer tastes have changed in the market and sales prices of the inventory have been reduced so that the goods will have to be sold at much lower prices, if at all (iv) Cost prices of raw materials used in production have increased Select one: a. (i), (ii), (iii) and (iv) b. (i), (ii), (iv) only c. (i) and (iv) only d. (iv) only
q15 Which of the following are circumstances that may indicate that the asset may be impaired? (i) A motor vehicle has been damaged in an accident (ii) A debtor is in financial difficulty (iii)Consumer tastes have changed in the market and sales prices of the inventory have been reduced so that the goods will have to be sold at much lower prices, if at all (iv) Cost prices of raw materials used in production have increased Select one: a. (i), (ii), (iii) and (iv) b. (i), (ii), (iv) only c. (i) and (iv) only d. (iv) only
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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q15
Which of the following are circumstances that may indicate that the asset may be impaired?
(i) A motor vehicle has been damaged in an accident
(ii) A debtor is in financial difficulty
(iii)Consumer tastes have changed in the market and sales prices of the inventory have been reduced so that the goods will have to be sold at much lower prices, if at all
(iv) Cost prices of raw materials used in production have increased
Select one:
a. (i), (ii), (iii) and (iv)
b. (i), (ii), (iv) only
c. (i) and (iv) only
d. (iv) only
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