alleryStart learning →For a non-financial asset, fair value is assumed sold on the
AGroup book value
BUnit of account
CEntity business plan
DTax filing unit
Answer & Solution
Correct answer: B. Unit of account
The market participant is assumed to already hold complementary assets, so the asset is measured on the unit of account in other Ind ASs.
Keep practising Ind AS 113 Fair Value Measurement
Browse all Ind AS 113 Fair Value Measurement questions for CA Final, or explore more Financialreporting topics.
Related questions
An upward PPE revaluation under IAS 16 builds up in equity asUnder IAS 40, changes in fair value of investment property under the fair value model go tDoes IFRS 13 say when fair value should be used?IFRS 13 Fair Value Measurement became effective for periods beginning onFor recurring Level 3 items, a narrative must coverAn asset held for sale at fair value less costs to sell under Ind AS 105 is an example of Fair value measurements that other Ind ASs require in the balance sheet each period are caUnobservable inputs in Level 3 must reflect assumptions that market participants would use