Homework Answers
Solution :
Question 2 )
Fair value is the value that would be received after selling the asset or transferring the liability.
Tangible value is the value of physical assets. Intangible value is the value of non physical assets like goodwill, patents etc. Book value is th value of asset at the time of purchase - depreciation.
Hence the correct option is D) fair value
Question 3 )
As per AASB 138, expenditure on research shall be considered as expense and should not be capitalised.
Hence the correct option is A ) expense
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The price that would be received to sell an asset or paid to transfer a liability...
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