As per As- 28 impairment of asset means decrease in the value of asset.

Related MCQs

• Impairment assets is nothing but………………….in the value of assets
• Sub standard asset are certain loan asset of a bank which are classified as ………….assets for a period not exceeding two year.
• …………….asset is one which has been classified as non-performing asset for period not exceeding than………….years
• Recoverable amount of an asset isof selling price and value of an assets in use.
• Banks are to recognize their income on…………….basis in respect of income on performing asset.
• Banks are to recognize their income on……………… basis in respect of income on non performing asset.
• Sub-standard assets is one which has been classified as non performing asset for a period not exceeding three years.
• The computation of loss by fire is very simple taken when a -------------- asset is destroyed
• A ---------- policy covers loss of stock, fixed asset, profit, expenses etc.
• Stock is considered as a liquid asset as anytime it can be converted into cash immediately.