Impairment losses (except on goodwill) are required to be reversed, if certain criteria are met.

Name: Impairment losses (except on goodwill) are required to be reversed, if certain criteria are met.
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Question

Quizplus · Accepted Answer

Impairment losses on assets, other than goodwill, can be reversed if there is a subsequent increase in the recoverable amount of the asset, indicating that the impairment loss recognized in prior periods no longer exists or has decreased.

Impairment Losses (Except on Goodwill) Are Required to Be Reversed