CIMAPRA19-F01-1 Exam - Topic 3 Question 17 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam

Question #: 17
Topic #: 3

An asset has the following values:

If the asset was sold for its fair value, selling costs of $1,500 would be incurred.

Which of the following is the value of the impairment loss to be recognised for this asset in accordance with IAS 36 Impairment of Assets?

A$0

B$300

C$1,200

D$2,000

Show Suggested Answer

Suggested Answer: C

by Adell at May 04, 2022, 10:51 PM

Limited Time Offer

25%

Off

Get Premium CIMAPRA19-F01-1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Ria

4 months ago

Totally agree, $1,200 makes the most sense!

upvoted 0 times

...

Lavera

4 months ago

Wait, how can it be $2,000? That doesn’t add up.

upvoted 0 times

...

Ernestine

4 months ago

I think it’s $1,200. Seems right!

upvoted 0 times

...

Pansy

4 months ago

Impairment loss is usually fair value minus costs.

upvoted 0 times

...

Dusti

5 months ago

The selling costs are $1,500.

upvoted 0 times

...

Malinda

5 months ago

I'm not totally sure about this one. The options seem a bit vague to me. I'll have to make an educated guess and go with C, "As a partial lot".

upvoted 0 times

...

Tora

5 months ago

This seems like a straightforward question about the functions of strategic mapping software. I'll carefully read through the options and try to identify the one that best matches the description.

upvoted 0 times

...