The first step of the impairment test for property, plant and equipment is assessing asset recoverability.

Name: The first step of the impairment test for property, plant and equipment is assessing asset recoverability.
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Quizplus · Accepted Answer

The impairment test for property, plant, and equipment begins with assessing whether the asset's carrying amount is recoverable, which involves comparing the carrying amount to the sum of the undiscounted future cash flows expected from its use and disposal.

The First Step of the Impairment Test for Property, Plant