The impairment test will be different depending on whether the asset is being held for use or held for sale True

False

Answer:

TRUE

Explanation:

Impairment test for assets held for use

If recoverable amount (net future cash flows from asset) is less than the Book value, then the asset is impaired.

Impairment test for assets held for sale

If book value exceeds the fair value (less) cost to sell, then the asset is impaired.

So, it can be said that the impairment tests are different depending on whether the asset is held for use or for sale.