Financial Reporting and Analysis Q237

237Which 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.

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