Impairment loss is the amount by which the carrying value of an asset or cash-generating unit exceeds its recoverable amount.

Name: Impairment loss is the amount by which the carrying value of an asset or cash-generating unit exceeds its recoverable amount.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Impairment loss occurs when the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use.

Impairment Loss Is the Amount by Which the Carrying Value