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In a set of financial statements prepared in accordance with IAS 16, is it correct to say that the carrying amount in a statement of
In a set of financial statements prepared in accordance with IAS 16, is it correct to say that the carrying amount in a statement of financial position cannot be greater than the market (net realisable) value of the partially used asset as at the end of the reporting period? Explain your reasons for your answer. (3 marks)
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