Measuring Asset Impairment Assets = Economic resources with probable future benefits acquired in an exchange transaction Knowledge Check 01 Consider the following information about an asset that is being review for impairment: Book value Estimate future cash flows Fair value $700,000 650,000 590,000 What is the amount of the impairment loss for this asset? (If there is no impairment loss, enter "0" as your answer.) Impairment loss