Recoverable amount is the:
A) higher of an asset's fair value less costs to sell, and its value in use.
B) amount expected to be received from the disposal of the asset.
C) amount expected to be recovered from the use of the asset.
D) trade-in or expected amount to be received from the disposal of the asset.

Question

Quizplus · Accepted Answer

Recoverable amount is the higher of an asset's fair value less costs to sell, and its value in use. This is the amount that can be recovered from an asset, either by selling it or using it in the business operations. It is the basis for impairment testing of assets.

Recoverable Amount Is The