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

question 6

Multiple Choice

Where the value of revalued non-current assets does not change frequently and is not material,AASB 116 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:

Minimization

The process of finding the least possible value of a function or variable, often within specified constraints.

Maximization

The process of increasing a particular outcome or variable to its highest potential or value, often within given constraints.

Corner-point Method

A mathematical technique used in linear programming to find the optimum solution by evaluating the objective function at each corner point of the feasible region.

Dual Values

In linear programming, dual values represent the amount by which the objective function of an optimization model would improve with a one-unit increase in the right-hand side value of a constraint.