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Which of the following statements are true when it comes to impairment?
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29 votes
29 votes
Which of the following statements are true when it comes to impairment?

User Saneryee
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1 Answer

19 votes
19 votes

Answer:

Reduction in recoverable amount

Step-by-step explanation:

Impairment of an asset happens when there is drastic reduction in recoverable amount of the asset. Long term assets are at risk of impairment because their carrying values may exceed the fair value. The business record it as a loss in assets value.

User DrEnter
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