The FASB established principles for evaluating asset impairment because it hoped financial reporting would
A)be enhanced through the usefulness of a company's financial statements
B)present information that is expected to be more relevant
C)improve comparability across companies
D)all of these

Question

Quizplus · Accepted Answer

The FASB established principles for evaluating asset impairment in order to enhance financial reporting through the usefulness of a company's financial statements, present information that is expected to be more relevant, and improve comparability across companies. Therefore, all of the choices are correct.

The FASB Established Principles for Evaluating Asset Impairment Because It