In What Way Does IAS 16 (Property,Plant,& Equipment)differ from U

question 43

Multiple Choice

In what way does IAS 16 (Property,Plant,& Equipment) differ from U.S.GAAP concerning fixed asset measurement subsequent to initial recognition?

• A)IAS 16 allows for upward revaluation of the asset based on fair value.
• B)IAS 16 does not allow accumulated depreciation to be shown on the balance sheet.
• C)IAS 16 requires that fixed assets be carried at fair value less accumulated impairment losses.
• D)IAS 16 allows both upward and downward revaluation of fixed assets,whereas U.S.GAAP only allows upward revaluation.