Where an asset is measured using the cost model,any impairment loss is:
A)accumulated in a separate 'accumulated impairment losses' account
B)set off against the balance of revenue
C)taken directly to equity
D)added to the balance of the accumulated depreciation account.

Question

Quizplus · Accepted Answer

In the cost model, any impairment loss is recognized by adjusting the carrying amount of the asset and is added to the accumulated depreciation account, reducing the asset's net book value.

Where an Asset Is Measured Using the Cost Model,any Impairment