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:

Aggregate Function

A function in database management that performs a calculation on a set of values and returns a single value, such as sum, average, count, min, and max.

Statistic

A numerical measurement describing some characteristic of a sample or population, often used in the analysis of data.

Subtotal

A calculation that provides a summary of numerical data before the final total is computed, often used in spreadsheets and reports.

Medium Date

A date format displaying the day, abbreviated month, and year, e.g., "01 Jan 2023".