Asked by Mojarai Johnson on May 31, 2024
Verified
Loss from Impaired Goodwill
A) Current assets
B) Fixed assets
C) Intangible assets
D) Current liability
E) Long-term liability
F) Owner's equity
G) Revenues
H) Operating expenses
I) Other revenue and expense
Impaired Goodwill
A decrease in the value of goodwill on a company's balance sheet, often due to a company's acquired assets not performing as expected.
Loss
When a company's expenses exceed its revenues during a specific period, resulting in negative profit.
Operating Expenses
Ongoing costs for running a business that are not directly associated with the production of goods or services, such as rent, utilities, and salaries.
- Link accounts with their corresponding area within financial reports.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
I
Explanation :
Loss from impaired goodwill is typically reported in the "Other revenue and expense" section of the income statement, as it is not a regular operating expense but rather an occasional loss related to the reduction in the carrying value of goodwill.
