alleryStart learning →On designating an asset at FVTPL at transition, what must be disclosed?
ANo further disclosure is needed
BIts fair value and old carrying amount
COnly its tax base at that date
DOnly the original purchase invoice
Answer & Solution
Correct answer: B. Its fair value and old carrying amount
Paragraph 29 requires the fair value at designation date and the classification and carrying amount in the previous statements.
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Related questions
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