The amount of impairment loss is the excess of book value over:

Name: The amount of impairment loss is the excess of book value over:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to accounting standards, an impairment loss is recognized when the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the higher of the asset's fair value less costs to sell or its value in use. Therefore, the amount of impairment loss is the excess of book value over the asset's fair value.

The Amount of Impairment Loss Is the Excess of Book