AASB 138 Requires an Entity to Choose Between Which Models

question 4

Multiple Choice

AASB 138 requires an entity to choose between which models for intangible assets subsequent to their initial recognition?

• A)cost and revaluation models
• B)revaluation and recoverable amount models
• C)cost and recoverable amount models
• D)none of the above

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Definitions:

Save Up

The act of regularly setting aside a portion of income or resources for future use or for a specific goal.

Esker

A long, winding ridge of sand and gravel deposited by meltwater streams flowing beneath a glacier.

Meltwater Channels

Channels formed by the flow of water produced from melting ice or glaciers.

Glacial Sediment

Material deposited by glaciers as they move and melt, ranging from fine silt to large boulders.