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What impairment loss on a credit-impaired receivable

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Problem 1: The recoverable amount of a loan or note receivable that is credit impaired but not purchased or originated credit-impaired or variable-rate loan is

a. The present value of the estimated future cash flows to be received over the remaining life of the receivable discounted at the current interest rate.

b. The present value of the estimated future cash flows to be received over the remaining life of the receivable discounted at the original effective interest rate.

c. The present value of the estimated future cash flows to be received over the remaining life of the receivable discounted at the original effective interest rate of the current market rate, whichever is more clearly determinable.

d. The sum of principal plus interest.

Problem 2:  Impairment loss on a credit-impaired receivable (but not purchased or originated credit-impaired) may be computed as

a. The excess of the present value of the remaining future cash flows from the receivable over its carrying amount

b. The excess of its carrying amount over the present value of the remaining future cash flows from the receivable

c. The deficiency of the carrying amount compared to the present value of the remaining future cash flows from the receivable

d. The difference between the remaining future cash flows and the carrying amount of the receivables

Reference no: EM132836611

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