Derecognition of an asset might occur when: a. The control of an asset is transferred to a

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Derecognition of an asset might occur when:

a. The control of an asset is transferred to a third party, for example, through sale or gift.

b. No future economic benefits are expected from the asset.

c. The institution has earned the right to receive income from the asset.

d. Both a and b.

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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Question Posted: Mar 11, 2024 03:33 AM

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Derecognition of an asset might occur when: a. The control of an asset is transferred to a

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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