Reversals of impairment losses on held-to-maturity and available-for-sale securities are recognized in income under $\begin{array}{lll}
& \text {IFRS} & \text {GAAP}\
\text { I. } & \text { yes } & \text { yes } \
\text { II. } & \text {no } & \text { yes } \
\text { III. } & \text { yes } & \text {no } \
\text { IV. } & \text { no } & \text { no }
\end{array}$

Question

Reversals of impairment losses on held-to-maturity and available-for-sale securities are recognized in income under $\begin{array}{lll}
 & \text {IFRS} & \text {GAAP}\
\text { I. } & \text { yes } & \text { yes } \
\text { II. } & \text {no } & \text { yes  } \
\text { III. } & \text { yes  } & \text {no } \ 
\text { IV. } & \text { no } & \text { no }
\end{array}$

Quizplus · Accepted Answer

Under IFRS, reversals of impairment losses on held-to-maturity and available-for-sale securities can be recognized in income. However, under US GAAP, reversals of impairment losses on held-to-maturity securities are not recognized in income, but reversals for available-for-sale securities can be recognized in other comprehensive income, not in net income.

Reversals of Impairment Losses on Held-To-Maturity and Available-For-Sale Securities Are