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:

Nonfinancial Performance Measures

Nonfinancial performance measures are metrics used to assess a company's efficiency, quality, or performance in areas not directly related to financial metrics, such as customer satisfaction or employee engagement.

Leading Indicators

Economic factors that change before the economy starts to follow a particular pattern or trend, used to predict future economic activities.

Future Financial Performance

Predictions or estimates regarding a company's revenue, expenses, and profitability in upcoming periods.

Customer Satisfaction Rating

A measure used by businesses to evaluate the degree to which their products or services meet or surpass customer expectations.