美国CPA模拟试题：固定资产减值（一）

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A company has a long-lived asset with a carrying value of $120,000, expected future cash flows of $130,000, present value of expected future cash flows of $100,000, and a market value of $105,000. What amount of impairment loss should be reported under U.S. GAAP?

a. $15,000

b. $20,000

c. $5,000

d. $0

Explanation

Choice "d" is correct. Under U.S. GAAP, the first step in determining if a long-lived asset is impaired is to compare the carrying amount of the asset to the undiscounted expected future cash flows from the asset. If the undiscounted expected future cash flows exceed the carrying value of the asset, then there is no impairment. In this problem, the expected future cash flows of $130,000 exceed the asset's carrying value of $120,000, so there is no impairment, despite the fact that the fair value of the asset and the present value of the future cash flows are less than the carrying amount.

Choices "c", "a", and "b" are incorrect, per the above.