Under IAS 36, which statement about impairment losses is true?

Under IAS 36, which statement about impairment losses is true?

• A. Impairment losses can be reversed up to the original carrying amount.
• B. Recovery amount is always greater than carrying amount.
• C. Impairment losses can be reversed up to the lesser of the asset's carrying value that would have existed had the asset never been written down.
• D. Impairment testing is not required unless there is a triggering event.

Answer: (C)