When an Entity Classifies a Non-Current Asset as "Held for Sale

question 19

Multiple Choice

When an entity classifies a non-current asset as "held for sale":

• A)the entity no-longer expects to recover its carrying amount through its use.
• B)they are no longer of use to the entity and must be abandoned
• C)always comprise part of a discontinued operation.
• D)they continue to be depreciable assets

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Definitions:

Interacting Group

A collection of individuals who are in direct contact and communicate with each other to achieve a common goal.

Excessive Amounts

Quantities or volumes beyond what is considered normal, necessary, or reasonable.

Financial Benefit

The economic gain obtained from an investment or business activity after accounting for all costs.

Best Advantage

The optimal utilization of resources, strategies, or circumstances to achieve the greatest benefit or competitive edge.