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Questions -
Q1) MZ Company decide to sell their building and listed the building for sale and vacant the building as at 1st January 2015. The building being purchased at $20 million and the remaining useful life of 30 years (Useful life 40 years at time of purchased). The building being listed for sale at price of $13 million with disposal costs of $3 million and it is considered reasonable price at current economic situation. The value in use for the building in the other hand was $11 million. Calculate amount of impairment loss if any for the building as at 1st January 2015.
A) $4.5 million
B) $5 million
C) $4 million
D) $5 million
E) NIL
Q2) Which of the following are not consider as non-current assets?
A) Office Equipment
B) Bearer Plant
C) Aircraft
D) Stand-by equipment
E) None of above
Q3) Which of the following item shall not being recoded based on MFRS 5 Non-current asset held for sale?
i. Business unit for sale
ii. Deferred tax asset
iii. Non-current asset measured at fair value less estimated point-of sale
iv. Asset arising from employee benefit
a) i, ii and iv
b) i, ii and iii
c) ii, iii and iv
d) all of above
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