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Impairment losses cannot be reversed for asset-true or false

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Reference no: EM132569753

Question 1: PFRS allows reversal of impairment losses when there has been a change in economic conditions or in the expected use of the asset. Under U.S GAAP, impairment losses cannot be reversed for assets to be held and used.

Select one:

a. False

b. True

Reference no: EM132569753

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