What is the treatment of any gain on a subsequent increase in the fair value less cost of disposal of a noncurrent asset classified as held for sale?

Q: How will we recognise any fair value gain arising from a change in fair value of an investment…

A: Investment Property:   An investment property is a property in the form of land or building that are…

Q: The measurement of revaluation model is at: Fair value at the date of acquisition less any…

A: As per the INTERNATIONAL ACCOUNTING STANDARD Revaluation concept the measurement of Revaluation…

Q: If a company buys an intangible asset, it can only utilize the revaluation model to evaluate the…

A: This question describe about the revaluation model to evaluate the asset's value later.

Q: Can a member who contributed an asset demand for its return, transfer or conveyance upon dissolution…

A:

Q: If the residual value of a leased asset is guaranteed by a third party:

A: A lease is an arrangement under which a lessor agrees to allow a lessee to control the use of…

Q: fair value model for investment property differ from the revaluation model for PPE

A: Fair value model and revaluation model are methods of valuation of non-current assets as per…

Q: If the fair value of net assets is less than the offered price the acquisition considered as a…

A: Fair value of the assets is the amount which can be fetched by entering into sales transaction…

Q: Why allow the fair value option for financial assets and liabilities and not for, say, buildings or…

A:

Q: The sale of a depreciable asset resulting in a loss indicates that the proceeds from the sale are…

A: The asset is regarded as the investment of money by the investor in something which makes a profit…

Q: "Depreciation is a valuation process that results in the reporting of the fair value of the asset.”…

A: Fixed assets: These are the assets which were used in the business for more than one year. These…

Q: When does the cost of land affect an entity's profit or loss? * O When the related revaluation is…

A: The Fixed assets and Investments that are long term in nature i.e. full value of the asset cannot be…

Q: When an impairment loss occurs, the carrying amount of the asset should be reduced to its   a) ©…

A: Impairment: It implies to an increase in the fixed asset's carrying value in relation to the price…

Q: Why would refinancing be an alternative to sale of the property?

A: Individuals always buy the properties taking the mortgage because payment for buying the property…

Q: When market value of an asset is higher than book value, depreciation is not charged. A) True B)…

A: Meaning of depression. Depreciation is a reduction in the value of asset due to wear and tear,…

Q: All of the following are true regarding recovery of impairments for intangible assets except а.…

A: Intangible assets are those assets which lacks physical existence and provide long term benefits to…

Q: If the lessor has a substitution right throughout the period of use of the leased asset, which of…

A: A substantive substitution right exists if the lessor has the practical ability to substitute…

Q: The sale of a depreciable asset resulting in a gain indicates that the proceeds from the sale were…

A: Depreciable assets are those fixed assets on which depreciation is charged over the years and net…

Q: A transfer from investment property carried at fair value to owner-occupied property shall be…

A: A shift from investment property to owner-occupied property must be accounted for will be…

Q: What is the amount to be capitalized when repairs or improvements that significantly increase the…

A: Assets are being repaired every now and then. Some repairs are ordinary in nature while others are…

Q: Depreciation is a valuation process that results in the report-ing of the fair value of the asset.”…

A: Depreciation is a form of non-cash expenditure which represents the normal wear & tear and…

Q: The gain/loss related to a sale and leaseback transaction not recognized by the seller-lessee in its…

A: Rights retained .. The gain or the loss relating to a sale and leaseback transaction not recognized…

Q: If a company purchases a limited-life intangible asset, they _____________ amortize the asset and…

A: Intangible assets are those that are not monetary assets and cannot be touched or seen. These arise…

Q: What is the difference between tangible and intangible assets?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: An entity that acquires an intangible asset may use the revaluation model for subsequent measurement…

A: Lets start with basic understanding. Intangible asset is considered under IAS 38 " Intangible…

Q: Which of the following cases would result in an actuarial loss? Projected benefit obligation…

A: As per IFRS, Actuarial gains and losses are changes in the present value of the defined benefit…

Q: Which of the following best describes the higher of an asset's net selling price and its value in…

A: Asset's net selling price is the amount obtainable from the sale of assets less any disposal cost.…

Q: Under IFRS, the costs of relocating property, plant, and equipment can be capitalized as assets and…

A: Cost of capitalization: When an asset is constructed or bought, there are two costs that would form…

Q: A loss on disposal

A: The loss on disposal arose when the asset is sold for less than the book value of the asset. The…

Q: Under IFRS, an intangible asset is considered to be impaired if it carrying value is greater than…

A: According to IFRS 13 and Indian Accounting Standard (IAS) 36, an intangible asset is said to be…

Q: Under U.S. GAAP, litigation costs to successfully defend an intangible right are capitalized and…

A: IFRS:  IFRS means international financial reporting standards. It is implemented to report the…

Q: Question 1 Which of the following statements regarding the acquisition of PP&E is false? Answers:…

A: ‘’Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Bonus depreciation reduces the adjusted basis of property in the same manner that regular MACRS…

A: The Modified Accelerated Cost Recovery System (MACRS) is the system of depreciation for the current…

Q: right of use asset

A: Correct Answer :- C Sale price

Q: Depreciation is a process of asset valuation where an asset's book value (cost less accumulated…

A: Depreciation is an accounting method of allocating the cost of tangible assets over its useful life.…

Q: The amount of gain (loss) on sale and leaseback transaction is: A. The difference of fair value and…

A: Gain is booked when money is received on the sale of the asset. leasing back can be assumed to be…

Q: Describe why allow the fair value option for financial assets and liabilities and not for buildings…

A:

Q: Under the impairment of assets, value-in-use is *   a. The undiscounted present value of future…

A: The impairment loss is recorded as an expense in the income statement of the company.

Q: A gain on the disposal of an asset indicates that the asset was sold for more than Its fair value.…

A: Lets understand the basics. When there is sale happens of asset then there is profit or loss arise.…

Q: What is the cost of right of use of asset?

A: Given in the question: Sales Price 20,000,000 Fair Value 18,000,000 Carrying Amount…

Q: What is an impairment loss?   A ) The amount by which the carrying amount of an asset exceeds the…

A: An impairment loss is a recognized decrease in the par value of an asset caused by a deterioration…

Q: If a newly acquired asset is ‘held for sale’, the asset or disposal group will be measured at: A.…

A: Held for sale assets are those assets that are acquired for the purpose of sale in short period of…

Q: cost of the new asset acquired

A: Cost of acquisition of new asset = Carrying amount of exchanged asset + Cash difference paid

Q: What do you mean when you say the depreciable life of an asset is defined?

A: The question explains about the depreciable life of an asset is defined