If an Asset's Carrying Amount Is Increased Due to an Initial

question 30

Multiple Choice

If an asset's carrying amount is increased due to an initial revaluation that increase shall be recognised in:

• A) other comprehensive income.
• B) the profit and loss.
• C) in the disclosures.
• D) None of the given answers are correct.

---

Definitions:

Standard Hours

The estimated time that should be taken to complete a task or produce a unit under normal conditions.

Actual Labor-Hours

Actual labor-hours represent the real number of labor hours worked by employees, as opposed to planned or estimated hours, often used in productivity and costing analyses.

Direct Material Standards

The anticipated cost and quantity of materials required for the production of goods or services.

Actual Cost

Actual cost refers to the exact amount of expenses incurred for producing a product or performing a service, contrasted with estimated or budgeted costs.