Question

Porter Company is evaluating the following assets to determine whether it can use fair value as deemed cost in first-time adoption of IFRS.
1. Biological assets related to agricultural activity for which there is no active market.
2. Intangible assets for which there is no active market.
3. Any individual item of property, plant, and equipment.
4. Financial liabilities that are not held for trading.
For each assets type, indicate if the deemed cost exemption can be used.



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  • CreatedJune 17, 2013
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