CIMA F1 Question Answer
DE purchased an asset on 1 January 20X1 for $60,000 with a useful economic life of six years and a residual value of $3,000.
DE uses straight line depreciation for this asset.
On 31 December 20X3 the asset has a value in use of $ $28,000 and a fair value of $26,000.
Which of the following values should be used for the asset in DE's statement of financial position as at 31 December 20X3?
CIMA F1 Summary
- Vendor: CIMA
- Product: F1
- Update on: Sep 17, 2025
- Questions: 248
