The Following Information Was Taken from the Fixed Asset Records

question 1

Multiple Choice

The following information was taken from the fixed asset records of Bosco Ltd. as of December 31, 2010: $\begin{array}{llr}\text { Carrying value } & € 100,000 \\\text { Selling price } & € 85,000 \\\text { Costs of disposal } & € 3,000 \\\text { Expected future cash flows } & € 75,000 \\\text { Present value of expected future cash flows } & € 63,000\end{array}$
-Using IAS 36, what is the amount of impairment loss?

• A)€18,000
• B)€37,000
• C)€15,000
• D)€25,000

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Definitions:

Labor Law

The collection of laws, regulations, and prior judicial decisions that delineate the legal entitlements and limitations for employees and their unions.

Industrial Democracy

A system of governance in an organization where all stakeholders, including employees, have a say in decision-making processes.

Democratic Principles

The fundamental guidelines that promote equality, freedom, and justice within societies, often associated with the practice of voting and majority rule.

Labor Union

An organization formed by workers to protect and advance their rights and interests through collective bargaining.