alleryStart learning →Surplus Rs 80, impairment Rs 110 on a revalued asset. Loss to profit or loss?
ARs 110
BRs 80
CRs 30
DNil
Answer & Solution
Correct answer: C. Rs 30
Rs 80 reduces the revaluation surplus through OCI, and the excess Rs 30 is charged to profit or loss.
Keep practising Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets
Browse all Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets questions for CA Final, or explore more Financialreporting topics.
Related questions
With no active market now, a revalued intangible is carried at what?Prior recoverable amount may be reused if the margin was what?Acquired intangibles that cannot be recognised separately go where?Costs of an entity's own website at the planning stage are treated how?The best estimate of a recognised website's useful life should be what?A website from development is recognised only if it meets what?To assess impairment of an intangible asset, which Ind AS is applied?How may a nominal-cost government grant intangible be measured?