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13) Elton Industries, a company who uses IFRS reporting
standards, has asset and liabilities of a disposal group
classified as held-for-sale shown on its statement of financial
position. Which of the following presents the best treatment
for these?

14) Woodson Company, a company who uses IFRS reporting
standards, has identified a group of plant assets for disposal.
On January 1, 2014, the carrying value of these assets was
$14.5 million. The assets were revalued to $13.5 million on
January 5, 2014, when they were identified as property for the
disposal group. In addition, Woodson thinks that it will cost
$1.5 million to sell these assets. What carrying amount should
these assets reflect for year-end financial statements to be
prepared on January 10, 2014?
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ACC 304 Week 4 Chapter 10 Quiz (All Possible Questions)
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Week 4 Quiz 3: Chapter 10
ACQUISITION AND DISPOSITION OF PROPERTY,
PLANT, AND EQUIPMENT
IFRS questions are available at the end of this chapter.