alleryStart learning →Carrying amount exceeds recoverable amount: then?
AWritten down per Standards
BLeft unchanged in the books
CRevalued upward at once
DBorrowing cost reversed
Answer & Solution
Correct answer: A. Written down per Standards
Excess carrying amount is written down or written off in line with the requirements of the other relevant Standards.
Keep practising Ind AS 23 Borrowing Costs and Ind AS 40 Investment Property
Browse all Ind AS 23 Borrowing Costs and Ind AS 40 Investment Property questions for CA Final, or explore more Financialreporting topics.
Related questions
Restrictions on realisability: what is disclosed?If fair value is unreliable, what is disclosed?When classification is hard, what is disclosed?Which profit or loss amounts must be disclosed?What must be disclosed under the cost model?Liabilities kept after disposal fall under which Standard?Compensation for lost property is recognised when?Carrying Rs 1.2 crore; net proceeds Rs 1.5 crore. Recognised?