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What is the meaning of highly probable

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Question 1: In order for a noncurrent asset to be classified as held for sale, the sale must be highly probable. What is the meaning of highly probable?

Group of answer choices

Option 1: The future sale is more likely than not to occur.

Option 2: The future sale is highly to occur.

Option 3: The sale is certain.

Option 4: The probability is higher than more likely than not.

Question 2: If an owner-occupied property is transferred to investment property that it is to be carried at fair value, the difference between the carrying amount of the property and the fair value shall be

Group of answer choices

Option 1: Included in profit or loss

Option 2: Included in equity

Option 3: Accounted for as revaluation of property, plant and equipment

Option 4: Included in retained earnings

Reference no: EM132698060

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