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CIMA Exam CIMAPRA19-F01-1 Topic 2 Question 49 Discussion
Actual exam question for
CIMA's
CIMAPRA19-F01-1 exam
Question #: 49
Topic #: 2
[All CIMAPRA19-F01-1 Questions]
Topic #: 2
DE purchased an asset on 1 January 20X1 for $60,000 with a useful economic life of six years and a residual value of $3,000.
DE uses straight line depreciation for this asset.
On 31 December 20X3 the asset has a value in use of $ $28,000 and a fair value of $26,000.
Which of the following values should be used for the asset in DE's statement of financial position as at 31 December 20X3?
Suggested Answer:
A
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