B. An asset is sold in two different active markets at different prices. An entity enters into transaction in both markets and can access the price in those markets for the assets at measurement date as follows. Amount in RO Market 1 Price 78,000 Transaction cost (6,000) Transportation cost (4,000) Net price received 68,000 Market 2 75,000 (2.000) (4,000) 69,000 Briefly discuss fair value as per IFRS 13 concept & evaluate the fair value of the asset if : i) The market one is the principal market for the asset ii) No principal market can be determined. (Q.1 -B: Total 6 Marks +1 Mark for appropriate presentation) (Brief explanation 4 Marks + 2 Marks to evaluate the fair value)