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

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Ria

5 months ago

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

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Lavera

6 months ago

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

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Ernestine

6 months ago

I think it’s $1,200. Seems right!

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Pansy

6 months ago

Impairment loss is usually fair value minus costs.

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Dusti

6 months ago

The selling costs are $1,500.

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Malinda

6 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".

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Tora

7 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.

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