A subsidiary entity, Crystal Ltd, is for sale at a price $ 6 million. There has been some interest from prospective buyers but no sale

A subsidiary entity, Crystal Ltd, is for sale at a price $ 6 million. There has been some interest from prospective buyers but no sale as yet. One buyer has made an offer of $ 5 million but the directors of the parent company have declined the offer. An accountant firm which was appointed by the parent company has just submitted a report and advice that the fair value of Crystal Ltd is $ 7.5 million. They have decided not to lower the sale price of Crystal Ltd at the moment. Discuss whether the subsidiary can be classified as held for sale. refer to above details when answering.

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