Question 9 Which one of the following is correct about presentation and disclosures of a non-current asset or disposal group classified as held for sale? An entity needs to present a non-current asset classified as held for sale separately from other assets in the statement of financial position. The assets and liabilities of a disposal group classified as held for sale need to be offset and presented as a single amount in the statement of financial position. An entity is required to reclassify or re-present amounts presented for non-current assets in the statements of financial position for prior periods. If the disposal group is a newly acquired subsidiary that meets the criteria to be classified as held for sale on acquisition, disclosure of the major classes of assets and liabilities is required.