alleryStart learning →Carrying Rs 800; sale price Rs 760 less Rs 20 costs; value in use Rs 700. Loss?
ARs 60
BRs 100
CRs 40
DNil
Answer & Solution
Correct answer: A. Rs 60
Fair value less costs of disposal is 760 minus 20 = Rs 740, which is higher than 700, so loss is 800 minus 740 = Rs 60.
Keep practising Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets
Browse all Ind AS 36 Impairment of Assets and Ind AS 38 Intangible Assets questions for CA Final, or explore more Financialreporting topics.
Related questions
With no active market now, a revalued intangible is carried at what?Prior recoverable amount may be reused if the margin was what?Acquired intangibles that cannot be recognised separately go where?Costs of an entity's own website at the planning stage are treated how?The best estimate of a recognised website's useful life should be what?A website from development is recognised only if it meets what?To assess impairment of an intangible asset, which Ind AS is applied?How may a nominal-cost government grant intangible be measured?