Which of the following assets is incorrect?
A)Corporate assets should never be allocated to cash-generating units.
B)There are restrictions on how far a particular asset can be written down in the allocation process.
C)Where an impairment loss occurs in a cash-generating unit,and no goodwill exists,the impairment loss is allocated across the carrying amounts of the unit's assets.
D)AASB 136 Impairment of Assets provides guidelines to help determine the cash-generating units in an entity.

Question

Quizplus · Accepted Answer

This statement is incorrect as corporate assets can be allocated to cash-generating units if they represent the highest level at which goodwill or other assets are monitored for management purposes.

Therefore, the correct answer is:

Answer: A

Which of the Following Assets Is Incorrect