An item of property, plant and equipment qualifies to be reported as Held for Sale. Its fair
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Question:
An item of property, plant and equipment qualifies to be reported as "Held for Sale". Its fair value less cost to sell exceeds its carrying amount at the date it is reclassified as Held for sale. For accounting purposes, such an excess shall
a. not be accounted for
b. be recognized as gain in profit or loss
c. be recognized as gain in other comprehensive income and transferred to profit or loss at the date of actual disposal
d. be credited directly to retained earnings
(Please insert your explanation. Thank you!)
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