Choose the most appropriate answer to Questions 6 to 10, based on below mentioned facts: Date Amount (₹) Event 1 st January, 20X6 7,500 Asset…

CA Final · Financial Reporting · RTP · May 2025
Choose the most appropriate answer to Questions 6 to 10, based on below mentioned facts: Date Amount (₹) Event 1 st January, 20X6 7,500 Asset acquired with depreciation to be charged based on useful life of 10 years On 31st December, 20X7 240 Indicators of impairment noted and impairment allowance accounted On 28th February, 20X9 Assets has been classified as held for sale On 28th February, 20X9 4,600 Fair value less costs to sell On 30th June, 20X9 5,300 Fair value less costs to sell
(A) ₹ 750
(B) ₹ 720
(C) ₹ 240
(D) ₹ 120

Suggested Answer and Working Notes:

Correct Answer: Option (B)

₹ 720

Topics: Ind AS 16

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