Reference no: EM132699313

Problem 1: Which statement is incorrect concerning presentation of noncurrent asset or disposal group classified as held for sale?

Group of answer choices

Option 1: An entity shall present a noncurrent asset held for sale and the assets of a disposal group classified as held for sale separately from other assets.

Option 2: An entity shall depreciate a noncurrent asset classified as held for sale or while it is part of a disposal group classified as held for sale.

Option 3: The assets and liabilities a disposal group classified as held for sale shall not be offset as a single amount.

Option 4: The liabilities of a disposal group classified as held for sale shall be presented separately from other liabilities.

Problem 2: A noncurrent asset that ceases to be classified as held for sale shall be measured at

Group of answer choices

Option 1: Recoverable amount at the date of the subsequent decision not to sell.

Option 2: Higher between the carrying amount before the asset was classified as held for sale adjusted for depreciation that would have been recognized if the asset had not been classified as held for sale and the recoverable amount at the date of the subsequent decision not to sell.

Option 3: Carrying amount.

Option 4: Lower between the carrying amount before the asset was classified as held for sale adjusted for depreciation that would have been recognized if the asset had not been classified as held for sale and the recoverable amount at the date of the subsequent decision not to sell.