Under Certain Circumstances, a Choice Exists Between Using the Primary

question 3

Multiple Choice

Under certain circumstances, a choice exists between using the primary method or the exception method when revaluing property, plant and equipment under AASB 116.All other things being equal, which statement is incorrect?

• A)Both methods provide the same information just after revaluation.
• B)The exception method is more time consuming than the primary method.
• C)The primary method results in the accumulated depreciation account equalling zero just after revaluation.
• D)The methods do not affect the asset's carrying amount.

---

Definitions:

Boilerplate Formats

Standardized text, document templates, or formats used repeatedly without significant changes, often for legal documents, press releases, or routine communications.

Electronic Documents

Digital forms of documents, which can be created, stored, transmitted, and viewed on electronic devices.

You-Attitude

a style of communication that focuses on the needs, interests, and concerns of the audience or recipient.

Blind Copy

Sending an email or correspondence where recipients' addresses are hidden from one another, typically denoted as BCC.