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Regarding the reversals of impairments of long-lived assets,
A. The US GAAP disallows the loss to be reversed if the asset is categorized as held for sale.
B. The IFRS allows the loss to be reversed regardless of whether the asset is held for use or sale.
C. The US GAAP allows the loss to be reversed if the asset is categorized as held for use.
Answer: B
Explanation:
The US GAAP disallows the loss to be reversed if the asset is categorized as held for use, and allows if the asset is categorized as held for sale.
Failure modes and effects analysis involves what activity?
Response:
A. The study of the physics of failure to determine exactly how a product fails and what causes the failure.
B. A study of the probability of success in a given time period.
C. The determination of the probability of failure in a specified period of time.
D. The expected number of failures in a given time interval.
Answer: A
What model is the highest level model within the enterprise data model?
A. Logical model
B. Conceptual model
C. Subject Area model
D. Physical model
Answer: B
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