Which of the Following Is Not What IAS 16

question 2

Multiple Choice

Which of the following is not what IAS 16 / AASB 116 prescribes in relation to asset measurement?

• A)IAS 16 /AASB 116 allows companies to choose between a cost model and a current cost model
• B)On acquisition the cost price of the asset is its fair value
• C)All assets within a class must be valued under the same principles but not all classes must use the same valuation model
• D)Assets have to be revalued in a specified period

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Definitions:

Specialized Training

Training that focuses on developing expertise or skills in a specific field or profession, often requiring advanced education and practice.

Psychotherapy

A form of therapy aimed at treating mental health problems by talking with a psychologist, psychiatrist, or other mental health provider.

Uneasiness

A feeling of discomfort or anxiety about something that is not right.

Apprehension

A feeling of anxiety or fear that something bad or unpleasant will happen.