Question 2 1 points Save If an impairment loss recognised in prior periods for a revalued asset no longer exists. AASB 136 Impairment of Assets requires a reporting entity to: reverse the impairment loss to increase the asset to its recoverable amount O reverse the impairment loss in profit and loss, only if the asset adopts the revaluation model. treat this as a prior period adjustment and recognise the reversal as a gain. o ignore this information as previously written off assets als precluded from being reinstated. Need! Works