alleryStart learning →Initial disclosure of assets and liabilities uses amounts as of
ADate of purchase
BThe balance sheet date
CDate of the board plan
DThe next audit date
Answer & Solution
Correct answer: B. The balance sheet date
The carrying amounts of total assets to be disposed of and liabilities to be settled are given as of the balance sheet date.
Keep practising 3b AS 24 Discontinuing Operations
Browse all 3b AS 24 Discontinuing Operations questions for CA Inter, or explore more Accounting topics.
Related questions
Assets of Rs. 85 lakhs and liabilities of Rs. 15 lakhs give net assets ofAssets carried at Rs. 105 lakhs have a recoverable amount of Rs. 85 lakhs. The impairment The aim of AS 24 is to separate information on discontinuing operations fromAS 24 cash flow requirements apply only when the enterpriseInterim report disclosures on discontinuing operations followComparative figures after the initial disclosure event must beDisclosures under AS 24 are presented separately forThe effect of abandoning a plan includes reversal of any prior