Depreciation Based on Revaluation of Land and Buildings Is Permitted

question 143

Multiple Choice

Depreciation based on revaluation of land and buildings is permitted under

• A)GAAP but not IFRS.
• B)IFRS but not GAAP.
• C)both IFRS and GAAP.
• D)neither IFRS nor GAAP.
• IFRS,

---

Definitions:

Comparative Inference

The process of deducing conclusions by comparing different sets of data or information.

Testability

The capability of a hypothesis or theory to be tested, confirmed, or refuted through experimentation or observation.

Comparative Reasoning

The process of evaluating the similarities and differences between two or more entities to draw a conclusion or make a decision.

Comparative Inference

The process of drawing conclusions based on the comparison of different data sets, cases, or instances.