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:

Separation

Living apart before getting a divorce.

Divorce Mediation

A process in which a neutral third party assists divorcing couples in reaching an agreement on issues like property division and child custody without going to court.

Pawns

People or entities that are being used or manipulated by others for their own advantage or purposes.

Settlement

An agreement reached by disputing parties outside of court or the process of resolving a dispute through such an agreement, often involving some form of compensation.