Question

According to Ind AS 36, when should an asset be declared as impaired?

Q: Answer-According to Ind AS 36, when should an asset be declared as impaired?

An asset is declared as impaired when its recoverable amount is less than its carrying amount. If this amount is lower than the carrying amount, the difference is recognized as an impairment loss.

A When the recoverable amount is equal to the carrying amount

B When the recoverable amount is greater than the carrying amount

C When the recoverable amount is less than the carrying amount

D When the asset is certified as impaired by management

E When the asset is fully depreciated

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According to Ind AS 36, when should an asset be declared as impaired?

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