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What Are the 2 Main Rules for Revaluing Non-Current Assets

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Essay

What are the 2 main rules for revaluing non-current assets according to NZ IAS 16?


Definitions:

Service Fees

Charges for professional services provided by businesses to their customers.

Rent Expense

The cost incurred by a business to utilize property or equipment for business operations.

Revenue Closed

A term not commonly used in accounting standards. NO.

Owner's Capital

The amount of money and other assets invested in a business by its owner(s), which represents the owner’s claim against the company's assets.

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