Which Statement Is Correct Regarding the Use of the Cost

question 113

Multiple Choice

Which statement is correct regarding the use of the cost model and the revaluation model?

• A)The cost model is not allowed under IFRS.
• B)The revaluation model is the only model allowed under IFRS.
• C)The cost model is the only model allowed under ASPE.
• D)Either the cost model or the revaluation model can be under ASPE.

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Definitions:

Indicator

A sign or piece of information that indicates the state or level of something, often used in contexts like finance, science, or health.

Undesirable Tone

A manner of communication that may be perceived as inappropriate, negative, or counterproductive to the intended message.

Stiff

Often describes a lack of flexibility or easiness in movement, attitude, or in the context of writing, it can refer to a formal or overly formal tone.

Friendly

Exhibiting warmth, kindness, and approachability in interactions with others.