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Basic Question 4 of 9
True or False?
The financial reporting of gains and losses on exchanges of plant assets is different than the income tax reporting of gains and losses on exchanges of plant assets.
User Contributed Comments 2
| User | Comment |
|---|---|
| foshanboy | how about if the assets are dissimilar assets,which enable the loss or gain to be recognized either in financial reporting or tax reporting |
| johntan1979 | That's beyond the requirements of CFA Level I |
Your review questions and global ranking system were so helpful.
Lina
Learning Outcome Statements
explain and evaluate how impairment and derecognition of property, plant, and equipment and intangible assets affect the financial statements and ratios
CFA® 2024 Level I Curriculum, Volume 2, Module 7.