alleryStart learning →Criteria met after year end, before approval of accounts. The asset is:
AWritten off at year end
BClassified held for sale
CReclassified as current
DNot classified held for sale
Answer & Solution
Correct answer: D. Not classified held for sale
Classification depends on the position at the reporting date, so the asset is not reclassified, though limited disclosure is required.
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Related questions
A gain or loss on a held for sale asset not recognised by the sale date is recognised:A held for sale asset must be available for immediate sale subject only to terms that are:A held for sale asset must be marketed at a price that is:Highly probable assessment considers the probability of:Where an asset is part of a disposal group, the measurement rules apply to:A disposal group includes goodwill when it is a cash-generating unit to which goodwill hasA disposal group impairment loss reduces assets in the order set out in which standard?Non-current assets are reclassified as current only when they: