The amount at which an asset is recognised after deducting any accumulated depreciation (amortisation)and accumulated impairment losses is known as:

Question

Quizplus · Accepted Answer

The carrying amount of an asset is the amount at which it is recognised in the financial statements after deducting accumulated depreciation (amortisation) and accumulated impairment losses. Therefore, option D is the correct choice. Fair value refers to the price at which an asset could be sold in an arm's length transaction, while recoverable amount refers to the higher of an asset's fair value less costs to sell and its value in use. Recognised amount is not a commonly used accounting term.

The Amount at Which an Asset Is Recognised After Deducting