When an asset is held for sale
A)it must relate to a discontinued operation.
B)the entity must continue to record depreciation for the asset.
C)the asset is remeasured to the lower of carrying (book)value and fair value less costs to
Sell.
D)the asset is remeasured to the lower of fair value and carrying (book)value.

Question

Quizplus · Accepted Answer

When an asset is classified as held for sale, it is remeasured to the lower of its carrying amount and fair value less costs to sell, according to accounting standards.

When an Asset Is Held for Sale