Question: IFRS provides guidance on impairment testing-in particular, what is supportable evidence of impairment of loans and receivables. Instructions Read IAS 39, paragraphs 58 to 64,

IFRS provides guidance on impairment testing-in particular, what is supportable evidence of impairment of loans and receivables.
Instructions
Read IAS 39, paragraphs 58 to 64, and answer the following questions.
(a) When is a financial asset tested for impairment?
(b) What are examples of objective evidence" that might indicate impairment?
(c) What evidence, by itself, does not indicate impairment?
(d) Are loans and receivables treated individually or as a group?

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