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Hello Chris!
One condition of IFRS 5 NCA held for sale is that the asset should be available for immediate sale in its present condition?
-What mean ‘present condition’ mean here? Does it mean economic condition?
Hi,
It essentially means that the asset could be sold there and then. So it isn’t still being used to fulfil an order for a customer, in which case it is not available for sale in its immediate condition. Also, in that no significant modifications/updates are required for it to be sold.
Thans
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