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Which criteria is not required for a component results

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Reference no: EM132765928

Problem 1: An impairment loss that relates to an asset that has been revalued should be recognized in

a) Profit or loss

b) Revaluation surplus that relates to the revalued asset

c) Opening retained profit

d) Any reserve in equity

Problem 2: Which of the following criteria is not required for a component's results to be classified as discontinued operations?

a) Management must have entered into a sale agreement

b) The component is available for immediate sale

c) The operations and cash flows of the component will be eliminated from the operations of the entity as a result of the disposal

d) The entity will not have any significant continuing involvement in the operations of the component after disposal

Reference no: EM132765928

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