Which of the Following Disclosure Requirement Applies to IFRS but Not

question 61

Multiple Choice

Which of the following disclosure requirement applies to IFRS but not to U.S.GAAP?

• A)The events and circumstances that led to the recognition of the impairment.
• B)Whether the recoverable amount was fair value less costs to sell or value in use.
• C)The amount of any impairment loss if not separately disclosed in the income statement.
• D)The asset that was impaired.

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Definitions:

Owner

An Owner is the individual or entity that legally holds the rights to possess, use, and dispose of property, assets, or a business.