Under AASB 102 Revaluations Are PermitteD

question 26

Multiple Choice

Under AASB 102 revaluations are permitteD.

• A) Only in the form of a write-down.
• B) Only when an independent valuation is made by an external party.
• C) Only if upward revaluations are credited to an Inventory Revaluation Reserve.
• D) Only if the replacement cost of the asset is higher than the historical cost.
• E) None of the given answers.

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Definitions:

Depression

A common and serious medical illness that negatively affects how you feel, the way you think, and how you act, characterized by persistent sadness and a lack of interest or pleasure in activities.

Canadian University

A higher education institution located in Canada, offering a variety of undergraduate and postgraduate degrees.

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An intense, irrational fear of a specific object, situation, or activity leading to avoidance behavior that can significantly impact a person's life.

Anxiety

A psychological state defined by emotions of concern, anxiety, or dread so intense they disrupt an individual's everyday functions.