Which of the following statements is incorrect regarding the recognition of an impairment loss?
A) when an impaired asset is recorded at cost,the impairment loss must be recognised immediately as an expense in the statement of comprehensive income
B) any impairment loss of a revalued asset shall be treated as a revaluation decrease in accordance with AASB 116
C) when an impaired asset is recorded at cost,the impairment loss must be recognised as a revaluation decrease
D) when an impaired asset is recorded at cost,the impairment loss must be recognised immediately in profit or loss
Correct Answer:
Verified
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