IFRS 5 Non-current Assets Held for Sale and Discontinued Operations prescribes the recognition criteria for non-current assets held for sale.
For an asset or a disposal group to be classified as held for sale, the sale must be highly probable.
Which of the following must apply for the sale to be considered highly probable?
A buyer must have been located
The asset must be marketed at a reasonable price
Management must be committed to a plan to sell the asset
The sale must be expected to take place within the next six months
A 2 and 3
B 3 and 4
C 1 and 4
D 1 and 2