According to IAS 16,a Decrease in the Carrying Amount of a Fixed

question 19

Multiple Choice

According to IAS 16,a decrease in the carrying amount of a fixed asset that is identified on an asset's first revaluation should be recorded as:

• A)an expense on the Income Statement.
• B)a prior period adjustment to Retained Earnings.
• C)a credit to Revaluation Surplus.
• D)a debit to Revaluation Surplus.

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Definitions:

Neuroticism

A personality trait characterized by anxiety, fear, moodiness, worry, envy, frustration, jealousy, and loneliness.

Big Five

A model of personality that outlines five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Personality

A person’s characteristic patterns of behaving, thinking, and feeling.

Neurotransmitters

Chemical messengers in the nervous system that transmit signals across the synapse from one neuron to another.