Which of the Following Statement Is True of Revaluation Model

question 24

Multiple Choice

Which of the following statement is true of revaluation model in AASB 116?

• A) It is the preferred model of managers with bonus based payments.
• B) It is required under AASB 116.
• C) Once adopted the firm can no longer revert back to cost model.
• D) Accumulated depreciation is required to be eliminated against the gross carrying amount of the asset.
• E) None of the given answers.

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Definitions:

Attachment Styles

Attachment styles refer to patterns of attachment in emotional relationships that deeply affect our relationships as adults, identified as secure, anxious, avoidant, and fearful-avoidant.

Secure

In attachment theory, a classification indicating a healthy attachment between child and caregiver, characterized by trust and a balance of independence and emotional closeness.

Anxious

Anxiety or stress felt due to the unpredictable result of a situation.

Avoidant

Tending to avoid social interactions or situations that are perceived as uncomfortable or stressful.