A long-term asset that is retired from operations and held for disposal or sale is valued at ________.
A) lower of carrying value or net realizable value
B) lower of cost or market
C) value in use
D) replacement cost

Question

Quizplus · Accepted Answer

When a long-term asset is retired from operations and held for disposal or sale, it is valued at the lower of its carrying value or net realizable value, as per accounting standards.

A Long-Term Asset That Is Retired from Operations and Held