When assessing assets for impairment in asset groups,the firm groups assets at the lowest level of identifiable and independent cash flows.

Question

Quizplus · Accepted Answer

This is true. When assessing assets for impairment in asset groups, the firm groups assets at the lowest level of identifiable and independent cash flows. This means that assets are grouped together based on their ability to generate cash independently, and impairment is assessed at that lowest level.

When Assessing Assets for Impairment in Asset Groups,the Firm Groups