alleryStart learning →Impairment of a leased asset is assessed under
AAS 16 Borrowing Costs
BAS 9 Revenue Recognition
CAS 26 Intangible Assets
DAS 28 Impairment of Assets
Answer & Solution
Correct answer: D. AS 28 Impairment of Assets
AS 28 sets out how to review carrying amount and recognise or reverse impairment loss for leased assets.
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Related questions
Leaving a finance lease off the lessee's balance sheet understates obligations and distortFor a lessee, the amount of a residual value guarantee is theA lessor on finance leases also discloses accumulated provision forWhich must a lessor disclose for finance leases?In a finance leaseback, the carrying amount is written down only if there isLeaseback below fair value, loss offset by cheap rentals, isAsset sold at fair value Rs 6 lakh, carrying amount Rs 8 lakh, operating leaseback. Loss rOperating leaseback above fair value: the excess is