A Farmer Is Going to Divide 950

question 51

Multiple Choice

A farmer is going to divide 950.55 acres of land into 15 identical properties.
What size will each property be?

• A)67.73
• B)63.37
• C)65.37
• D)66.37

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Definitions:

AASB 136

The Australian Accounting Standards Board standard that deals with impairment of assets, requiring assets to be carried at no more than their recoverable amount.

Value In Use

The present value of the future cash flows expected to be derived from an asset, used in impairment testing.

Present Value

The present value of an amount of money or series of cash flows expected in the future, calculated using a particular interest rate.

Future Cash Flows

are the estimated amounts of money expected to be received or paid out by a business over future periods as a result of its operational activities.