. Entities may apply a simplified approach when recognizing impairment losses on trade receivables 7. When there is a significant increase in the credit risk of a financial asset since its initial recognition but there is no objective evidence of impairment, interest revenue is computed on the net carrying amount of the financial asset (i.e. gross carrying amount less loss allowance) 8. an entity recognizes impairment gain when there is an improvement in the credit quality of a previously impaired financial asset
True or False
6. Entities may apply a simplified approach when recognizing impairment losses on trade receivables
7. When there is a significant increase in the credit risk of a financial asset since its initial recognition but there is no objective evidence of impairment, interest revenue is computed on the net carrying amount of the financial asset (i.e. gross carrying amount less loss allowance)
8. an entity recognizes impairment gain when there is an improvement in the credit quality of a previously impaired financial asset
9.According to IFRS 9, expected credit losses are weighted average of credit losses with the respective risks of a default occurring as the weights
10. a financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future
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