IFRS Allow the Reversal of a Previously Recorded Impairment Loss

question 90

True/False

IFRS allow the reversal of a previously recorded impairment loss.

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Definitions:

Bond

A fixed-income investment in which an investor loans money to an entity (typically corporate or governmental) that borrows the funds for a defined period at a variable or fixed interest rate.

Premium

In finance, this term refers to the amount by which the price of a bond or stock exceeds its principal or face value, or to an additional payment above the normal cost.

Time

A continuous sequence of events that occurs in an irreversible succession from the past, through the present, to the future.