IAS 16 Prescribes That,if Assets Within the Same Class Are

question 20

Multiple Choice

IAS 16 prescribes that,if assets within the same class are revalued and some assets increased in value while others decreased in value:

• A)the net decrement for the class of asset should be recognised as loss in the income statement.
• B)the net increment for the class of asset should be credited to revaluation reserve.
• C)the total increment for all assets in the same class that increased in value should be credited to revaluation reserve and total decrement for all assets in the same class of asset should be recognised as loss in the income statement.
• D)All of the given answers are correct.

---

Definitions:

Marketing Implementation

The process of executing the marketing strategy by creating and performing specific actions that will ensure the achievement of the marketing goals.

Strategic Planning

The process of defining a company's direction and making decisions on allocating its resources to pursue this strategy, including its capital and people.

Marketing Implementation

The act of implementing marketing strategies and plans into actions to fulfill strategic marketing goals.