FRF7

MC Question 21

Which of the following must exist for an operation to be classified as a discontinued operation in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations?

(1)

The operation represents a separate major line of business or geographical area

(2)

The operation is a subsidiary

(3)

The operation has been sold or is held for sale

(4)

The operation is considered not to be capable of making a future profit following a period of losses

A    2 and 4
B    3 and 4
C    1 and 3
D    1 and 2

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