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:

Tutorial Assistance

Support provided to students in the form of personalized instruction, guidance, or help, typically aimed at improving their understanding of a subject or performance in academics.

Struggling

Facing difficulty or challenges in accomplishing something.

Connections

Relationships or links between people, objects, ideas, or places.

Daily Life

The routine or regular activities that constitute a person's ordinary day.