(a)[3]
Explain why a business may have to impair its non-current assets.
(b)[6]
Explain the extent to which the value of the diesel lorry should be impaired. Support your answer with calculations.
(c)[11]
Set out the non-current assets schedule in a layout suitable for inclusion in the notes to the financial statements for the year ended 31 December 2021. A total column is not needed.
(d)[5]
Advise the directors whether X Limited should, or should not, have entered into the contract. Justify your answer.