Palm Beach Ltd has a cash generating unit (CGU) and has been assessed for impairment and it has determined an impairment loss of $100,000.
The following information relates to the assets as at 30 June 2012.
In accordance with AASB 136 "Impairment of Assets" what should be the carrying amount of buildings as at 30 June 2012?
Definitions:
Hypothesis
A proposed explanation made on the basis of limited evidence as a starting point for further investigation.
National Debt
The net accumulation of federal budget deficits.
Rate of Unemployment
The percentage of the labor force that is jobless and actively seeking employment.
Normative Economic Statement
A statement that reflects opinions or judgments about what ought to be in economics, focusing on the desirability of certain economic policies or outcomes.
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