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Topic
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With regard to impaired assets, the FASB standards provide for
<Recognition of loss upon impairment> <Restoration of previously recognized impairment losses>
Yes Yes
Yes No
No Yes
No Nookay.. my understanding is
Loss for impairment is recognized regardless of whether the asset is for use or for sale
asset for use => no recovery
asset for sale => recovery is permitted but only up to its Carrying amount prior to impairmentthen based on my understanding I BELIVE the answer is (YES AND YES )
BUT wiley says YES , NO
WHAT THE …????
It ain't About How Hard You Hit
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