Question
In accordance with IFRS 5/MFRS 5 Non-current Assets Held for Sale and discontinued Operations , an entity shall classify a non-current asset (disposal group) as
In accordance with IFRS 5/MFRS 5 Non-current Assets Held for Sale and discontinued Operations, an entity shall classify a non-current asset (disposal group) as held for sale if its carrying amount will be recovered principally through a sale transaction rather than continuing use.
Explain the criteria that must be met for an asset to be classified as held for sale in accordance with IFRS 5/ MFRS 5. (7 marks)
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
