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sir if the fair value of an asset is $2.5m but is being actively marketed at $3m, then as per my study text the asset doesn’t meet the criteria for ‘assets held for sale’ as the asset is not being marketed at a rate that is ‘reasonable’ to its FV.
So my question is how do we know if a certain price is reasonable to its FV or not. Because its quite debatable!
You won’t have time to debate anything. 3 is not the FV so the asset will not be HFS.
Keep it simple.