alleryStart learning →Asset sold at fair value Rs 6 lakh, carrying amount Rs 8 lakh, operating leaseback. Loss recognised at once?
ARs 6 lakh
BRs 1 lakh
CRs 2 lakh
DNil
Answer & Solution
Correct answer: C. Rs 2 lakh
Fair value is below carrying amount, so the Rs 2 lakh difference is recognised immediately as a loss.
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