alleryStart learning →For an asset held for disposal, recoverable amount may usually be taken as its:
AOriginal cost
BValue in use
CNet selling price
DRevalued amount
Answer & Solution
Correct answer: C. Net selling price
For an asset held for disposal, value in use is mostly the net disposal proceeds, so net selling price serves as recoverable amount.
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: