Which Statement Is Correct

question 109

Multiple Choice

Which statement is correct?

• A)The revaluation model is required for non-current assets under IFRS.
• B)The revaluation model is required for non-current assets under ASPE.
• C)The revaluation model is optional for non-current assets under IFRS.
• D)The revaluation model is optional for non-current assets under ASPE.

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Definitions:

Board of Directors

A group of individuals elected by the shareholders of a company to oversee and make decisions on major issues and policies.

Primary Market

The market where securities are issued for the first time, allowing corporations to raise capital from investors.

Securities

Marketable securities embodying equity in publicly-operated corporations, claims of debt owed by governments or firms through bonds, or opportunities for ownership via options.

Original Sale

The first sale of an item or property after its initial acquisition or production.