alleryStart learning →Which is a condition for a market to be an active market under AS 28?
APrices are fixed by a government body
BA single buyer dominates the trading
CThe items traded are unique in nature
DWilling buyers and sellers are normally found
Answer & Solution
Correct answer: D. Willing buyers and sellers are normally found
An active market needs homogeneous items, willing buyers and sellers available at any time, and publicly available prices.
Keep practising AS 28 Impairment of Assets
Browse all AS 28 Impairment of Assets questions for CA Inter, or explore more Accounting topics.
Related questions
An enterprise applying AS 17 discloses impairment losses by:A revalued asset's market value basis and negligible disposal costs mean the asset is:For a small and medium-sized company, value in use may be measured by:Impairment of deferred tax assets is dealt with under:Disclosing key assumptions is:If recoverable amount is value in use, a material loss disclosure includes:A class of assets under AS 28 means a grouping of assets of:AS 28 disclosures of impairment losses are required for each: