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Candy Limited expected future cash flows from the use of Equipment as follows:
End of Year 1 £4000;
End of Year 2 £5000;
End of Year 3 £2000.
The discount rate was determined as 5%. The value in use of the equipment is:
Insurance Policy
A contract between an individual or entity and an insurance company, detailing the terms for the payment of claims in exchange for premiums paid by the insured.
Coverage Begins
The specified date from which an insurance policy starts providing benefits or protection.
Insurance Agreement
A contract between an insurer and an insured, outlining coverage terms, conditions, and the scope of insurance protection.
Potential
Refers to the capacity or ability that something or someone has to develop, achieve, or become something more in the future.
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