The Accounting Treatment for the Sale of Non-Current Assets by a Superannuation

The accounting treatment for the sale of non-current assets by a superannuation fund involves the following steps:

A) Update the asset's depreciation expense; calculate the gain or loss by comparing the proceeds from sale with the asset's carrying amount.
B) Update the asset's depreciation expense; perform impairment test; calculate the gain or loss by comparing the assets carrying amount with proceeds from sale.
C) Revalue the asset to its net market value immediately prior to sale and recognise changes as part of revenue; calculate the gain or loss by comparing the assets carrying amount with proceeds from sale.
D) Revalue the asset to its net market value immediately prior to sale and recognise changes as part of revenue; recognise sale of non-current assets.