question 21choose the correct answer from the choices An entity acquires a subsidiary exclusively with a view to selling it. The subsidiary meets thecriteria to be classified as held for sale. At the balance sheet date, the subsidiary has not yetbeen sold, and six months have passed since its acquisition. How will the subsidiary be valuedin the balance sheet at the date of the first financial statements after acquisition? *In accordance with applicable PFRSO At the lower of its cost and fair value less cost to sellO At fair valueO At carrying value

Investment in subsidiary held for sale is valued as per PFRS 5 - Non current assets held for sale…

Answered: - subsidiary be valued

Business

Accounting

- subsidiary be valued

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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Question

question 21

choose the correct answer from the choices

An entity acquires a subsidiary exclusively with a view to selling it. The subsidiary meets the
criteria to be classified as held for sale. At the balance sheet date, the subsidiary has not yet
been sold, and six months have passed since its acquisition. How will the subsidiary be valued
in the balance sheet at the date of the first financial statements after acquisition? *
In accordance with applicable PFRS
O At the lower of its cost and fair value less cost to sell
O At fair value
O At carrying value

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