AASB 136 Impairment of Assets Requires Which of the Following

question 5

Multiple Choice

AASB 136 Impairment of Assets requires which of the following disclosures for each class of assets:
I The line item(s) of the statement of profit or loss and other comprehensive income in which impairment losses are included.
II The amount of reversals of impairment losses during the period.
III The amount of impairment losses recognised directly in other comprehensive income.
IV The beginning and ending balances of any accumulated impairment account.

• 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:

Totals Button

A feature in database and spreadsheet software that automatically calculates and displays the total for selected numeric fields in a dataset.

Records Group

A set of records categorized or grouped together based on specific criteria within a database management system.

Table Datasheet View

A data presentation style in database software that arranges information in a grid of rows and columns, akin to a spreadsheet layout.

Currency Field

A specialized field in databases or spreadsheets formatted to display and calculate financial data in the currency format.