alleryStart learning →If the criteria for held for sale are no longer met, the entity:
AKeeps the classification a year more
BCeases to classify it as held for sale
CDeletes the asset from the ledger
DTreats the asset as abandoned now
Answer & Solution
Correct answer: B. Ceases to classify it as held for sale
Once the conditions fail, the asset must cease to be classified as held for sale.
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