Under IFRS, the recoverable value of a long-term operating asset is ________.
A) the greater of the asset's estimated replacement value and its value in use
B) the greater of the asset's estimated fair value less costs to sell and its value in use
C) the lesser of the asset's estimated replacement value and its value in use
D) the lesser of the asset's estimated fair value less costs to sell and its value in use

Question

Quizplus · Accepted Answer

Under IFRS, the recoverable amount of an asset is the greater of its fair value less costs to sell and its value in use.

Under IFRS, the Recoverable Value of a Long-Term Operating Asset