According to AASB 136 a Non-Current Asset Should BE

question 32

Multiple Choice

According to AASB 136 a non-current asset should bE.

• A) Revalued downwards where the net amount that is expected to be recovered through the cash inflows and outflows from its continued use and subsequent disposal exceeds its cost.
• B) Written down to its replacement cost when the recoverable amount is greater than its value in use.
• C) Written down to its recoverable amount when its carrying amount is greater than its recoverable amount.
• D) Revalued upwards where its value in use is greater than its net realisable value.
• E) None of the given answers.

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Definitions:

Senior Citizens

Older adults, often defined by a specific age threshold, considered in various economic models for their consumption, savings, and labor supply behaviors.

Constant Marginal Cost

A situation where the cost of producing one additional unit is the same regardless of the volume produced.

Separate Markets

Distinct market segments or spaces where different goods or services are traded, often separated by geographical, cultural, or regulatory barriers.

Monopolist

A single seller in a market who controls all the sales of a particular product or service, with no close substitutes.