Under IFRS Standards, if a non-current asset is held for sale, it must be written down to recoverable amount (fair value less costs to sell), and depreciation stops.
A. TRUE
B. FALSE
yasaswi gomes (My grammar is 💯 good I) (7290 Points)
28 February 2021Under IFRS Standards, if a non-current asset is held for sale, it must be written down to recoverable amount (fair value less costs to sell), and depreciation stops.
A. TRUE
B. FALSE
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 01 March 2021
False
An entity shall measure a non-current asset (or disposal group) classified as held for sale at the lower of its carrying amount and fair value less costs to sell. Depreciation stops once classified as held for sale.
Even i took the IFRS quiz from website and it was wrongly published. If this is a cpa question, how can anyone pass.
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 01 March 2021
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