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which of the following statement is fales? -An impairment loss cannot be reversed - In practice, tests for impairment are very difficult to implement. -
which of the following statement is fales?
-An impairment loss cannot be reversed
- In practice, tests for impairment are very difficult to implement.
- Practice and regulation regarding impairment have varied over time and between countries in the world.
- If the fair market value of a tangible asset is less than its book value, such asset should be written down and a loss recognized as an "impairment loss" expense.
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