(Answered) Refer to the situation described in exercise

Accounting

Refer to the situation described in Exercise 11-22.

Required:

How might your solution differ if Chadwick Enterprises, Inc., prepares its financial statements according to International Accounting Standards? Assume that the fair value amount given in the exercise equals both

(a) The fair value less costs to sell and
(b) The present value of estimated future cash flows.

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