Under IAS 16 When an Asset Is Revalued and the Net

question 10

Multiple Choice

Under IAS 16 when an asset is revalued and the net method is used,accumulated depreciation:

• A)must be written back to profit.
• B)must be closed off to the equity account.
• C)should be eliminated against the gross carrying amount of the asset before revaluation.
• D)should be increased by the same proportion as the gross carrying amount of the asset so that the carrying amount of the asset after revaluation equals the revalued amount.

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Definitions:

Radical Behaviorism

A psychological perspective emphasizing the study of observable behavior and the role of the environment as a determinant of behavior.

Legal Systems

Formal mechanisms of social control that interpret and apply laws within a society, including institutions like courts and legislatures, as well as the body of laws and regulations themselves.

Intervening Variables

Variables that act as a mediator between independent and dependent variables, explaining the relationship between them within a study.

Salivation

The production and release of saliva from glands in the mouth, often in response to the sight, smell, or taste of food.