A noncurrent asset that is to be abandoned should not be classified as held for sale because A. The carrying amount is recovered principally through continuing use. B. It is difficult to value C. It is unlikely that the noncurrent asset will be sold within 12 months. D. It is unlikely that there will be an active market for the noncurrent asset

A noncurrent asset that is to be abandoned should not be classified as held for sale because A. The carrying amount is recovered principally through continuing use. B. It is difficult to value C. It is unlikely that the noncurrent asset will be sold within 12 months. D. It is unlikely that there will be an active market for the noncurrent asset

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter12: Auditing Long-lived Assets And Merger And Acquisition Activity

Section: Chapter Questions

Problem 8CYBK

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