Question: identify whether the following statement is true or false. A non-current asset acquired with the sole intention of being resold and which meets the requirements

identify whether the following statement is true or false.

A non-current asset acquired with the sole intention of being resold and which meets the requirements to be classified as held for sale will immediately be classified as held for sale and since it would not have a prior carrying amount, it is not initially measured at the lower of carrying amount and fair value less costs to sell but simply at it fair value less costs to sell.

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