The carrying amount of an item of property, plant and equipment shall be derecognized 1. On disposal II. When no future economic benefits are expected from the use or disposal of the asset Il only Neither I nor II Either I or II X OI only

The carrying amount of an item of property, plant and equipment shall be derecognized 1. On disposal II. When no future economic benefits are expected from the use or disposal of the asset Il only Neither I nor II Either I or II X OI only

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

The carrying amount of an item of property, plant and equipment shall be
derecognized
1. On disposal
II. When no future economic benefits are expected from the use or
disposal of the asset
II only
Neither I nor II
Either I or II
x I only

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