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What is the recoverable amount of the asset

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Reference no: EM132901264

Some plant and equipment has a carrying amount of £25 000. Its replacement cost is £27 000, its value in use is £18 000 and it could be sold for £21,000. Prior to sale the company would incur legal costs of £500 and advertising costs of £400.

Problem 1: In accordance with IAS36, what is the recoverable amount of this asset?

A. £27 000
B. £20 500
C. £20 100
D. £18 000

Reference no: EM132901264

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