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What operationally and for financial reporting purposes

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Reference no: EM132817728

Problem 1: Which statement is incorrect concerning presentation of noncurrent asset or disposal group classified as held for sale?

a. An entity shall present a noncurrent asset held for sale and the assets of a disposal group classified as held for sale separately from other assets.

b. The liabilities of a disposal group classified as held for sale shall be presented separately from other liabilities.

c. The assets and liabilities a disposal group classified as held for sale shall not be offset as a single amount.

d. An entity shall depreciate a noncurrent asset classified as held for sale or while it is part of a disposal group classified as held for sale.

Problem 2: It comprises operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes from the rest of the entity.

a. Component of an entity

b. Disposal group

c. Business segment

d. Corporate asset

Reference no: EM132817728

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