Under IFRS,any Assets Held for Sale arising from the discontinuation of a business segment must be classified as current.

Question

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According to IFRS 5, any non-current assets (including assets held for sale) that arise from the discontinuation of a business segment or operation should be classified as held for sale and presented separately in the balance sheet as a single line item. These assets should be reported at the lower of their carrying amount or fair value less costs to sell, and they should be recognized as current assets if their carrying amount will be recovered through sale within the next 12 months. Therefore, the statement is true.

Under IFRS,any Assets Held for Sale Arising from the Discontinuation