Explain Why Non-Current Assets Held for Sale Are Recorded at the Lower

question 90

Essay

Explain why non-current assets held for sale are recorded at the lower of carrying value and fair value less costs to sell.

---

Definitions:

Fire Triangle

A model explaining the three elements needed for fire to occur: heat, fuel, and an oxidizing agent (usually oxygen).

Temperature

It measures the substance's temperature by evaluating the average kinetic energy of its particles, illustrating if it's hot or cold.

Combustion

A high-temperature exothermic chemical reaction between a fuel and an oxidant, producing heat and usually light in the form of flame.

Chemical Equation

A symbolic representation of a chemical reaction, showing the reactants and products with their respective quantities.