Which of the Following Statement Is Incorrect Regarding How the IASB

question 22

Multiple Choice

Which of the following statement is incorrect regarding how the IASB requires that the impairment assessment be performed?

• A) Receivables that are individually significant should be considered for impairment separately, if impaired, the company recognizes it.
• B) Receivables that are not individually significant are assessed individually. If impaired, the company recognizes it.
• C) Any receivable individually assessed that is not considered impaired should be included with a group of assets with similar credit-risk characteristics and collectively assessed for impairment.
• D) Any receivables not individually assessed should be collectively assessed for impairment.

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Definitions:

Synapse

Junction between neurons consisting of the presynaptic (axon) membrane, the synaptic cleft, and the postsynaptic (usually dendrite) membrane.

Antagonistic Muscle

Pairs of muscles that work against each other to move body parts, such as the biceps and triceps for arm movement.

Quadriceps Femoris Group

A group of four muscles located in the front of the thigh, responsible for extending the leg at the knee joint.

Gastrocnemius

A major calf muscle that plays a crucial role in walking, running, and jumping.