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What would the carrying value of the asset be as of december

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Question - An entity has been donated an intangible asset on 1 January 20X2. The original cost of the intangible asset was £1m. The fair value of the asset on 01 January 20X2 was £1.4m. The asset has an expected useful life of 15 years. According to IPSAS 31 Intangible Assets, what would the carrying value of the asset be as of 31 December 20x2?

Reference no: EM133187334

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