Recoverable Amount of an Asset Is Defined in AASB 136

question 66

Multiple Choice

Recoverable amount of an asset is defined in AASB 136 as the higher of its fair value less costs to sell and its value in use.In the case where an asset's carrying amount is less than its recoverable amount,which action is consistent with AASB 136?

• A) recognise difference as increase is asset revaluation reserve
• B) recognise difference as impairment loss
• C) recognise difference as gain from reinstatement of asset
• D) leave asset at its carrying amount

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Definitions:

Nucleus Accumbens

A region in the brain involved in the reward circuit, associated with motivation, pleasure, and addiction.

Reward Center

Areas in the brain, such as the nucleus accumbens, which are involved in the reinforcement of behaviors by producing feelings of pleasure.

Sensory Control

The regulation or management of sensory input to alter perception, behavior, or physiological responses.

Reward Circuits

Neural pathways in the brain that regulate the motivation and pleasure response, critical in learning and addiction.