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An impairment loss on a non-revalued asset is recognised in profit or loss. However, an impairment loss on a revalued asset is recognised in other comprehensive income to the extent that the impairment loss does not exceed the amount in the revaluation surplus for that same asset. Such an impairment loss on a revalued asset reduces the revaluation surplus for that asset (AS 36).
What was the projected CPI inflation for the fiscal year 2024-25 according to the RBI?
Which significant event does National Science Day on 28th February commemorate?
Who has been appointed as the new chairperson of the Telecom Regulatory Authority of India (TRAI)?
Who was named the Laureus World Sportsman of the Year for 2024?
Which country is included in India’s nomination for the UNESCO World Heritage List for 2024-25?
Who was honored with the Major Dhyan Chand Lifetime Achievement Award at the Hockey India Awards 2023?
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