When an Entity Adopts the Valuation Model to Account for Its

question 8

Multiple Choice

When an entity adopts the valuation model to account for its property,plant and equipment,which of the following statement(s) is/are correct?

• A) If an item is revalued, all assets in the same class shall be revalued.
• B) If an asset's carrying amount is decreased as a result of a revaluation, the decrease is always recognised in profit and loss.
• C) If an asset's carrying amount is increased as a result of a revaluation, the increase is always credited directly to equity.
• D) All of the given answers.
• E) None of the given answers

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Definitions:

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