Which of the Following Statements Is Incorrect Regarding the Recognition

question 25

Multiple Choice

Which of the following statements is incorrect regarding the recognition of an impairment loss?

• A)when an impaired asset is recorded at cost,the impairment loss must be recognised immediately as an expense in the statement of comprehensive income
• B)any impairment loss of a revalued asset shall be treated as a revaluation decrease in accordance with AASB 116
• C)when an impaired asset is recorded at cost,the impairment loss must be recognised as a revaluation decrease
• D)when an impaired asset is recorded at cost,the impairment loss must be recognised immediately in profit or loss