CERTYNEX IFRS ACADEMY

Which of the following statements correctly distinguish value in use from fair value less costs of disposal? (Several answers possible.)

Value in use rests on the cash flows the entity itself expects from the asset.

Value in use is the market price of the asset, less costs of disposal.

Fair value, from which costs of disposal are deducted, is defined by reference to IFRS 13 and takes the view of market participants.

Value in use and fair value less costs of disposal are two names for the same amount.

Recoverable amount is the average of value in use and fair value less costs of disposal.