CFA Practice Question

There are 520 practice questions for this study session.

CFA Practice Question

According to IFRS, in a sale-and-leaseback transaction, unless the fair (market) value of the asset at the time of sale is less than its undepreciated cost, ______
A. a gain from the sale should be deferred and amortized, but a loss should be recognized immediately.
B. any gain or loss from the sale should be deferred and amortized over the term of the lease.
C. any gain or loss from the sale should be recognized immediately.
Explanation: Any gain or loss should be recognized immediately.

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