Which of the Following Is Required to Be Disclosed for Each

question 11

Multiple Choice

Which of the following is required to be disclosed for each class of assets?
I the amount of impairment losses recognised in profit or loss during the period
II the amount of reversals of impairment losses recognised in profit or loss during the period
III the amount of impairment losses on revalued assets recognised directly in equity during the period; and
IV the amount of reversals of impairment losses on revalued assets recognised directly in other comprehensive income during the period.

• A) III and IV only;
• B) I, II, III and IV;
• C) I, II and III only;
• D) I and II only.

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Definitions:

Annual Interest

Annual interest refers to the percentage rate charged on a loan or earned on an investment over the course of a year.

Disaffirm

The legal act of declaring a contract or agreement void and refusing to honor it, usually due to issues like minor status or fraud.

Semi-invalid

Describes a state or condition where something or someone is partially, but not completely, invalid or unacceptable.

Sued

A legal process where one party files a lawsuit against another in a court of law.