Which of the following is correct with respect to when the impairment test must be performed?
A)An annual test is required for long-lived assets under IFRS.
B)An annual test is required for long-lived assets under ASPE.
C)Under IFRS, a test is required for long-lived assets only when there are indications an asset may be impaired.
D)Under ASPE, a test is required for long-lived assets only when there are indications an asset may be impaired.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is correct with respect to when the impairment test must be performed?
A)An annual test is required for long-lived assets under IFRS.
B)An annual test is required for long-lived assets under ASPE.
C)Under IFRS, a test is required for long-lived assets only when there are indications an asset may be impaired.
D)Under ASPE, a test is required for long-lived assets only when there are indications an asset may be impaired.

Which of the Following Is Correct with Respect to When