Asked by Kajal Barsiwal on Jul 14, 2024
Verified
Impairment losses are reported as a component of income from continuing operations.
Continuing Operations
The segments or activities of a business that are expected to continue for the foreseeable future, excluding discontinued operations.
- Acquire knowledge on the basics of asset impairment.
Verified Answer
SP
Sarah PaytonJul 15, 2024
Final Answer :
True
Explanation :
Impairment losses are reported as a component of income from continuing operations according to accounting standards. This is because impairment losses are considered to be a normal and recurring expense that is necessary to accurately report a company's financial position and performance.
Learning Objectives
- Acquire knowledge on the basics of asset impairment.
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