2. An investor shall discontinue the use of the equity method from the date? The investor ceases to have significant influence over an associate. The associate operates under severe long-term restrictions that significantly impair its ability to transfer funds to the investor. 1. 3. Fair value 1. The price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. The present value or discounted value of future net cash flows expected to be derived from an 4. Which is incorrect concerning the reversal of an impairment loss? The reversal of the impairment loss shall not be recognized immediately in the income statement as gain in reversal of impairment loss. The carrying amount of the asset shall be decreased to the new recoverable amount. II. asset.

2. An investor shall discontinue the use of the equity method from the date? The investor ceases to have significant influence over an associate. The associate operates under severe long-term restrictions that significantly impair its ability to transfer funds to the investor. 1. 3. Fair value 1. The price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. The present value or discounted value of future net cash flows expected to be derived from an 4. Which is incorrect concerning the reversal of an impairment loss? The reversal of the impairment loss shall not be recognized immediately in the income statement as gain in reversal of impairment loss. The carrying amount of the asset shall be decreased to the new recoverable amount. II. asset.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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