An entity assesses inventories for impairment,
A)Only when there are external indicators that, an impairment has occurred
B)At each reporting date
C)Only when there are internal indicators that an impairment has occurred
D)None of these

Question

Quizplus · Accepted Answer

Inventories should be assessed for impairment at each reporting date to determine whether their carrying amount exceeds their recoverable amount, reflecting a systematic approach to recognizing and measuring any losses.

An Entity Assesses Inventories for Impairment