AASB 1023 Specifies How Classes of Assets Are to Be

question 2

Multiple Choice

AASB 1023 specifies how classes of assets are to be measured.These requirements include that:

• A) Recoveries receivable and operating assets be recorded at historical cost.
• B) Financial assets within the scope of AASB 139 be measured at depreciated net market value at balance date and recoveries receivable be at their nominal amount.
• C) Financial assets within the scope of AASB 139 be measured at fair through profit and loss and deferred acquisition costs be measured at cost and amortised.
• D) Deferred acquisition costs and recoveries receivable be measured at their discounted present value.
• E) None of the given answers.

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