Case study 7.4 ‘ Impairment is only relevant to assets carried…Case study 7.4’Impairment is only relevant to assets carried under the cost model. For assets carried under the revaluation model, such as our land and buildings, increases and decreases in fair value dictate whether carrying amounts are adjusted up or down. We don’t bother testing land and buildings for impairment.’RequiredCritically evaluate the above statement.Accounting Business Financial Accounting ACCM 4200
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