CFA CFA General Elan wrong on answer please read

Elan wrong on answer please read

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      So below are two questions on the elan practice book set of questions. That i swear they are wrong in their answer choices. The first one from my understanding US GAAP never allows the reversals of impairment losses? Am i just loosing my mind or am I correct? Similar situation to number two as well same principle and concept. Please someone provide some clarification on what I am missing. My answers are for question 1 and B for question two 

      Which of the following statements about reversals of impairment losses is least accurate?

      1. IFRS allows reversals of impairment losses only for assets held-for-sale.

      2. U.S. GAAP does not allow reversals of impairment losses for assets held-for-use.

      3. U.S. GAAP allows reversals of impairment losses for assets held-for-sale.

      Answer: A

      IFRS allows reversals of impairment losses if the values of assets increase, regardless of their classification.

      (Wiley 30-22)

      Wiley. Practice Questions for 2015 Level I CFA Exam. John Wiley & Sons P&T, 2014-08-27. VitalBook file.

      The citation provided is a guideline. Please check each citation for accuracy before use.

      Which of the following statements about upward revaluations of long-lived assets is most accurate?

      1. U.S. GAAP only allows reversal of impairment losses for assets held-for-sale.

      2. IFRS only allows increases in the value of long-lived assets to the extent of previously recognized revaluation losses.

      3. Under IFRS, reversal of revaluation loss does not affect shareholders’ equity.

      Answer: A

      Under IFRS, upward revaluations do impact shareholders’ equity (either directly through the revaluation surplus) or indirectly (through the income statement). Further, under IFRS, revaluations may take the value of an asset beyond its historical cost.

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