An impairment test is conducted only:
A)at each balance date.
B)every three years.
C)when there is evidence that assets have been impaired.
D)at each reporting date including interim reporting dates such as half-year.

Question

Quizplus · Accepted Answer

An impairment test is only conducted when there is evidence that assets have been impaired. It is not necessary to conduct the test at each balance date or every three years. However, if evidence of impairment arises, the impairment test must be conducted at each reporting date, including interim reporting dates such as half-year.

An Impairment Test Is Conducted Only