When an impaired asset is carried at a revalued amount in accordance with AASB 116,the impairment loss is:

Name: When an impaired asset is carried at a revalued amount in accordance with AASB 116,the impairment loss is:
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Quizplus · Accepted Answer

When an impaired asset is carried at a revalued amount in accordance with AASB 116, the impairment loss is treated in the same way as a revaluation decrease. This means the loss decreases the revaluation surplus in equity related to that asset.

When an Impaired Asset Is Carried at a Revalued Amount