Which of the Following Statements Is Correct

question 41

Multiple Choice

Which of the following statements is correct?

• A) Revaluations of assets such as goodwill and inventory are not permitted in the accounting records of the subsidiary.
• B) Inventories can be revalued to an amount greater than its cost in the records of the subsidiary.
• C) AASB 3 Business Combinations requires that any revaluations of a subsidiary's assets at acquisition date must be done in the consolidation worksheet.
• D) The revaluation of non-current assets in the subsidiary's records means that the subsidiary has adopted the cost model of accounting for those assets.

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Definitions:

Older Workers

Employees who are near or beyond the traditional retirement age, often bringing valuable experience and stability to the workforce.

Family-friendly Benefits

Benefits offered by employers that support the balance between work and family life, such as flexible working hours, parental leave, and childcare support.

Off-shoring

The relocation of business processes or services to a foreign country, often for reasons of cost reduction or access to specialized skills.

Global Sourcing

The business practice of searching for and utilizing goods sources from around the world.