Where the Value of Revalued Non-Current Assets Does Not Change

question 16

Multiple Choice

Where the value of revalued non-current assets does not change frequently and is not material,IAS 16 suggests that revaluations:

• A)may be undertaken when next convenient.
• B)should be undertaken every 3 to 5 years.
• C)may be undertaken for individual assets within a class.
• D)should be suspended and the entity should switch back to cost.

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Definitions:

Sense of Smell

The ability to detect and identify odors through the olfactory system, which involves olfactory neurons that are sensitive to volatile compounds in the air.

Olfaction

The sense of smell, a complex chemical sensing system that is essential for detecting odors in the environment.

Skin Senses

The sensations of touch, pressure, temperature, and pain.

Pressure

A physical force exerted on or against an object by something in contact with it, or the stress or urgency of matters demanding attention or action.