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:

Government

The organized assembly or body of individuals leading a structured society, typically a nation.

Monopolies

Market structures characterized by a single seller facing no competition in offering a unique product or service.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning no one can be prevented from using them and one person's use does not reduce their availability to others.

Collective Benefits

Advantages or positive outcomes that are shared and enjoyed by all members of a group or society, not just by the individual who incurred the cost.