CAF-1 · Chapter 5 · Question 6 of 15
Which of the following assets is OUTSIDE the scope of IAS 36 Impairment of Assets?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Inventories.
Explanation
Inventories are measured at the lower of cost and net realizable value under IAS 2, and are thus excluded from IAS 36.
More IAS 36 Impairment of Assets MCQs
- Q8Which of the following represents an EXTERNAL indication of potential impairment?
- Q9If an asset is carried at a revalued amount under IAS 16, how is an impairment loss treated?
- Q10After an impairment loss is recognized, what must happen to the depreciation charge for the asset?
- Q11When reversing an impairment loss for an asset (other than goodwill), what is the upper limit for the new carrying amount?
- Q12Which of the following assets MUST be tested for impairment annually, irrespective of whether there is any indication of impairment?