Revaluation Model Is Allowed Under IFRS Mainly Because It Is

question 224

Multiple Choice

Revaluation model is allowed under IFRS mainly because it is useful in countries where

• A) there is a high inventory turnover.
• B) companies cannot estimate fair value of assets.
• C) there is a high inflation rates.
• D) companies cannot determine an appropriate method of depreciation.

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Definitions:

Egocentrism

A cognitive characteristic where an individual has difficulty understanding or considering perspectives other than their own.

Piaget

Swiss psychologist known for his pioneering work in child development and his theory of cognitive development.

Psychosocial Development

Psychosocial Development is a theory proposed by Erik Erikson, which postulates that individuals undergo eight stages of development, each characterized by a specific psychological challenge or crisis.

Cognitive Development

The process by which individuals acquire and evolve their thinking abilities, understanding, reasoning, and problem-solving skills from infancy through adulthood.