CERTYNEX IFRS ACADEMY

A group shows in its fair value table, in Level 3, the value in use of an asset tested for impairment. What is the error?

The value in use should be in Level 1, since it arises from a regulated test.

The value in use should be replaced in the table by the asset's historical cost.

The value in use is correctly presented, because every recoverable amount is a fair value.

Value in use is outside the scope of IFRS 13: it is not a fair value.