X C ACCOUNTING Flashcards | Chegg X G Marie acquired a 100% sharehole x quiz/attempt.php?attempt-7462&cmid=907 ciness... Car Rental Business... Auto Repair Shop B... Auto Repair Shop B... Occupation Od. $25,000 Clear my choice B ut of estion 18) Marie acquired a 100% shareholding in Luke for $500,000 when Luke's fair value of net assets was $400,000. The next year the recoverable amount of Luke was $150,000 and the fair value of Luke's net assets was $120,000. Determine the amount of impairment gain/loss. Select one: O a. $20,000 loss O b. $20,000 gain Oc. $50,000 gain Od. $50,000 loss of 15) How soon does goodwill acquired in a business combination need to be tested after an acquisition? Select one: e