When an Asset Is Held for Sale

question 28

Multiple Choice

When an asset is held for sale

• A) it must relate to a discontinued operation.
• B) the entity must continue to record depreciation for the asset.
• C) the asset is remeasured to the lower of carrying (book) value and fair value less costs to sell.
• D) the asset is remeasured to the lower of fair value and carrying (book) value.

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Definitions:

Learning Disability

A neurodevelopmental disorder characterized by difficulties in reading, writing, arithmetic, or other learning activities, not accounted for by intellectual disabilities.

Normal Intelligence

A psychological classification for cognitive ability that falls within the average range of standardized intelligence tests.

Gardner's Multiple Intelligences

A theory that proposes intelligence can be divided into multiple specific ('intelligence') areas, including linguistic, logical-mathematical, spatial, and others.

Spatial

Relating to, occupying, or having the character of space, particularly in how objects are located and organized within it.