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.