Financial Reporting and Analysis Q237
0. Which of the following statements is most accurate?
- A
Reversal of a write-down limited to the amount of original write-down is permitted under US GAAP.
- B
Reversal of a write-down is permitted only under IFRS and limited to the amount of original write-down.
- C
Reversal of a write-down is permitted under both IFRS and US GAAP but the amount of reversal varies for both standards.
- Option : B
- Explanation : Reversal of a write-down is permitted only under IFRS and limited to the amount of original write-down. Under US GAAP the reversal of a write-down is not allowed.
