alleryStart learning →If net selling price cannot be reliably determined, recoverable amount may be taken as:
AIts scrap value
BIts value in use
CIts original cost
DIts carrying amount
Answer & Solution
Correct answer: B. Its value in use
Without a reliable basis for a sale price, the standard allows value in use to stand as the recoverable amount.
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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: