If a sale does not take place within one year, can an asset (or disposal group) still
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Question:
If a sale does not take place within one year, can an asset (or disposal group) still be classified as held for sale in accordance with HKFRS 5?
| 1. | Yes. If the delay has been caused by events or circumstances beyond the entity's control. | |
| 2. | Yes. If there is sufficient evidence that the entity is still committed to the sale. | |
| 3. | No. It is required to reclassify back to a Non-current asset only. | |
| 4. | Yes. If the delay has been caused by events or circumstances beyond the entity's control and there is sufficient evidence that the entity is still committed to the sale. | |
| 5. | None of them. |
Expert Answer:
Answer Yes If the delay has been caused by events or circumstances beyond the en... View the full answer
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