Under the Accounting Standard Dealing with Revaluations, IAS 16/AASB 116

question 34

Multiple Choice

Under the accounting standard dealing with revaluations, IAS 16/AASB 116, an entity is required to:

• A) adopt either a cost model or a revaluation model.
• B) adopt a revaluation model.
• C) adopt a cost model.
• D) revalue its assets

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