In Relation to the Impairment of Assets,AASB 136 Impairment of Assets

question 12

Multiple Choice

In relation to the impairment of assets,AASB 136 Impairment of Assets requires which of the following disclosures for each class of assets?
I The line item(s) of the income statement in which impairment losses are included.
II The amount of reversals of impairment losses on revalued assets.
III The amount of impairment losses recognised in profit or loss.
IV The amount of impairment losses on revalued assets.

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

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Definitions:

Encoding

The process of converting information into a form that allows it to be stored in our memory.

Testing Effect

The enhanced memory performance and retention resulting from the act of retrieving information during a test, as opposed to simply re-reading or reviewing material.

Enhanced Memory

An improvement in the ability to recall or recognize information compared to normal memory function.

Automatic Processing

Automatic processing involves the unconscious encoding of incidental information such as space, time, and frequency, and well-learned information.