CERTYNEX IFRS ACADEMY

Which of the following statements on recognising an impairment loss on an individual asset are correct? (several answers)

The loss on an asset measured at cost is recognised in other comprehensive income

If the recoverable amount is less than the carrying amount, the asset is reduced to its recoverable amount

The loss on an asset that is not revalued is recognised immediately in profit or loss

A liability is always recognised when the estimated loss exceeds the carrying amount

The loss on a revalued asset is treated as a revaluation decrease