When Companies Following IFRS Write-Up an Asset to Its Current

question 122

True/False

When companies following IFRS write-up an asset to its current fair value,an owners' equity account entitled "revaluation surplus" is credited and disclosed as a separate line item.

---

Definitions:

Green Fill

A feature in spreadsheet and other software tools used to highlight cells with a green background color, often indicating a specific condition or status.

Hidden

In the context of computing, it refers to files, data, or elements that are not visible or accessible to the user under normal circumstances.

Align Cell Contents

Customizing the positioning of data within a cell in spreadsheet programs, such as top, bottom, center alignment, both horizontally and vertically.

Cell Edges

The borders or boundaries of a cell in a spreadsheet or table, which can often be styled or formatted.