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

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?
C) $1,200
A) $0
B) $300
D) $2,000

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

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 17
Topic #: 3
[All CIMAPRA19-F01-1 Questions]

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?

Show Suggested Answer Hide Answer
Suggested Answer: C

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

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Ria
10 months ago
Totally agree, $1,200 makes the most sense!
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Lavera
10 months ago
Wait, how can it be $2,000? That doesn’t add up.
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Ernestine
11 months ago
I think it’s $1,200. Seems right!
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Pansy
11 months ago
Impairment loss is usually fair value minus costs.
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Dusti
11 months ago
The selling costs are $1,500.
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Malinda
11 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
11 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
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