Under IAS 2 Revaluations Are Permitted

question 32

Multiple Choice

Under IAS 2 revaluations are permitted:

• A)only in the form of a write-down.
• B)only when an independent valuation is made by an external party.
• C)only if upward revaluations are credited to an inventory revaluation reserve.
• D)only if the replacement cost of the asset is higher than the historical cost.

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Definitions:

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