Ask Question
BusinessBusiness
27 December, 22:48

The impairment rule for goodwill involves how many steps? (a) 1 (b) 2 (c) 3 (d) 4

+5
Answers (1)
  1. 27 December, 22:59
    0
    Answer: 2 steps

    Explanation: While calculating impairment of goodwill following steps should be taken : -

    1. In the first step the fair value of the goodwill is compared with its carrying value.

    2. In the second step, if the fair value comes to be lower than the carrying value, then it is concluded that there is an impairment and then it is computed accordingly.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The impairment rule for goodwill involves how many steps? (a) 1 (b) 2 (c) 3 (d) 4 ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20, Flounder returns merchandise worth $1100 to Cheyenne.
Answers (1)
On January 1, Pacer Corporation issued $2,000,000, 13%, 5-year bonds with interest payable on July 1 and January 1. The bonds sold for $2,197,080. The market rate of interest for these bonds was 11%.
Answers (1)
A nation's GDP is Multiple Choice C + I + G + (X - M). The sum of value added at some stages of the production process. The total market value of all intermediate goods and services. The total amount of money in circulation.
Answers (2)
Graham Corporation has the excess manufacturing capacity to fill a special order from Nash, Inc. Using Graham's normal costing process, variable costs of the special order would be $15,000 and fixed costs would be $25,000.
Answers (1)
An Scorporation is taxed just like any other corporation. True or false
Answers (1)
New Questions in Business
How did collis p huntington spend his money business wise?
Answers (1)
Shawn loves to snowboard. he enjoys performing aerial tricks after launching off high jumps. the higher in the air he goes and the farther he travels, the better. which theory best explains shawn's motivation to snowboard?
Answers (1)
Since business strategies may change often, compensable factors should rarely be added or deleted. a. True b. False
Answers (1)
Which program is not a cash-transfer program?
Answers (1)
Parties more interested in managerial accounting data than in financial accounting data include
Answers (1)
Home » Business » The impairment rule for goodwill involves how many steps? (a) 1 (b) 2 (c) 3 (d) 4
Sign Up Forgot Password?