Question 2 The following terms are mismatched with its definitions. Terms Carrying amount Cost Depreciable amount Entity-specific value Fair value Recoverable amount Residual value Impairment loss Definitions The higher of an asset's fair value less costs to sell and its value in use. The cost of an asset, or other amount substituted for cost, less its residual value. The amount by which the carrying amount of an asset exceeds its recoverable amount. The amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment losses. The amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The present value of the cash flows an entity expects to arise from the continuing use of an asset and from its disposal at the end of its useful life or expects to incur when settling a liability. The estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. Required: Please match each terms to its correct definitions. [8 marks]