Which of the following statements is (are) true with respect to valuation impairments under the US
GAAP?
I). An asset is deemed as impaired if its book value exceeds its expected discounted cash flows.
II). The amount of the write-down is equal to the difference between the asset's book value and the present value of its expected cash flows even if the fair market value is available.
III). The amount of the write-down must appear on the income statement as part of continuing operations.
IV). Once the impairment has been eliminated, the asset's book value may be written back up again to better reflect economic reality.

The gains and losses generated by tariffs and quotas are such that

According to Standards of Professional Conduct, the following are procedures for compliance for one of the Standards of Professional Conduct:
Maintaining current files, of applicable statutes, rules, regulations and important cases in a readily
*
accessible manner.
Keep informed, about any changes of laws.
*
Which Standard of Professional Conduct do these compliance procedures relate to?

Data that describe characteristics of entities (such as persons, places, companies) at a given moment in time is called:

Social security payments have been adjusted for inflation annually since the late 1970s yet it is sometimes argued that the cost of living for retirees on social security rises less than the cost of living adjustment used by the government. If this is the case, retirees: