It Is Stated in AASB 116 That Under the Revaluation

question 1

True/False

It is stated in AASB 116 that under the revaluation model an asset's fair value is determined by its selling price in current condition; that is, it is an exit measure.

---

Definitions:

Adaptive Challenge

Problems or challenges that require new learning, innovation, and changes in behavior or mindset to be effectively addressed.

Completely Restructure

The process of making significant changes to the organizational, operational, or financial setup of a company to improve performance or adapt to new circumstances.

Adaptive Challenge

A problem or situation that requires new learning, innovation, and changes in behavior or attitudes to effectively address.

Technical Challenge

A problem or obstacle that requires specialized knowledge or skills to resolve.