Under both IFRS and ASPE, if the fair value of a reporting unit is less than its book value, an impairment loss has automatically occurred and no further impairment testing is required.

Question

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Under both IFRS and ASPE, if the fair value of a reporting unit is less than its book value, an impairment loss has potentially occurred, but further impairment testing is required to determine if an impairment loss needs to be recognized and the amount of impairment loss to recognize.

Under Both IFRS and ASPE, If the Fair Value of a Reporting