1.It is the present value of estimated future cash flows expected to arise from the continuing use of an asset (or CGU) and from its disposal at the end of its useful life.*

a)Use in value

b)Fair value less costs to sell

c)Recoverable amount

d)Value in use

2.The gain on impairment loss reversal of an asset which is recognized in profit or loss is computed as*

a)the difference between the recoverable amount on date of reversal and the carrying amount on date of reversal

b)the difference between the recoverable amount on date of reversal and carrying amount of the asset had no impairment loss been recognized previously

c)the difference between the carrying amount of the asset had no impairment loss been recognized previously and the carrying amount of the asset on the date of reversal

d)the difference between the carrying amount of the asset had no impairment loss been recognized previously and the recoverable amount on the date of the previous impairment testing.