QUESTION 1 The objective of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations specifies, amongst other things, accounting for and presentation and disclosure of discontinued operations. Radars sole activity is the operation of hotels all over the world. After a period of declining profitability, Radars directors made the following decisions during the year ended 31 December 2019: it disposed of all of its hotels in country A it refurbished all of its hotels in country B in order to target the holiday and tourism market. The previous target market in country B had been aimed at business clients. Required: (a) Define a discontinued operation and explain why the disclosure of such information is important to users of financial statements. (b) Treating the two decisions separately, explain whether they meet the criteria for being classified as discontinued operations in the financial statements for the year ended 31 December 2018.