HA2020) Financial Accounting Midterm ETO BEA2020 in Class Test, 10th March 10:00am Question 20 hot yet answered Marked out of 100 Flag question On January 1, 2021, ABC Plc. purchased equipment with a cost of 300,000, a useful life of 10 years and no residual value. The company uses straight-line depreciation. At December 31, 2021, the company determines that impairment indicators are present. The fair value less cost to sell the asset is estimated to be 260,000. The asset's value-in-use is estimated to be 245,000. There is no change in the asset's siseful life or residual value The 2021 income statement will report Loss on impairment of Select one O 40000 Ob 10,000 O 25.000 Od No loss recognised