Which of the Following Statements Is Not Correct in Relation

question 21

Multiple Choice

Which of the following statements is not correct in relation to the disclosure of property, plant and equipment balances?

• A) Paragraph 79 of AASB 116 contains information that entities are encouraged to disclose, but not required to do so.
• B) An entity must disclose the useful life estimates for each class of assets.
• C) A summary of movements in the revaluation surplus must be disclosed.
• D) Information on assets carried at revalued amounts must be disclosed on an individual asset basis.

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Definitions:

Amygdala

A section of the brain involved in experiencing emotions, particularly fear and pleasure.

Memory Trace

A concept in psychology and neurology referring to the physical and biochemical changes in the brain associated with storing information, essentially the footprint that a memory leaves on the brain.

Memory-Forming Areas

Regions in the brain, such as the hippocampus and amygdala, involved in the processing and storage of information as memories.

Memory Consolidation

The neural storage of a long-term memory.