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Assume fair value of a vehicle is $14,000, value in use is $14,500, and carrying value $15,500. Is the asset impaired under IFRS? If so, what is the impairment loss?
Deposits
Money placed into a financial institution for safekeeping, which can earn interest over time.
Excess Reserves
The amount of reserve funds that a bank holds beyond what is required by regulations, which can be loaned out or invested.
Actual Reserves
The sum of money a bank holds in its vault or with the central bank, ready to satisfy withdrawal requests or comply with regulatory obligations.
Required Reserves
The minimum amount of funds that a bank must hold in reserve against deposits, as mandated by monetary authorities.
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