It Is Possible to Measure Assets in Several Ways: the Possible

question 6

Multiple Choice

It is possible to measure assets in several ways: the possible ways include:
I. $\quad$ cost – an input or entry measure
II. $\quad$ replacement cost – an input or entry measure for a equivalent asset in new condition (an input or entry measure)
III. $\quad$ value in use (present value of future cash flows)
IV. $\quad$ current cost – the cost of replacing the production capacity that an asset had when new (an input or entry measure)
V. $\quad$ fair value less cost to sell
VI. $\quad$ fair value used under revaluation model
-Under AASB 136 the following measures are used to estimate recoverable amount:

• A)the total of III and V
• B)the greater of III and V
• C)III
• D)V

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Definitions:

Parasympathetic Nervous System

A division of the autonomic nervous system responsible for stimulating "rest and digest" activities, counterbalancing the sympathetic nervous system's "fight or flight" responses.

Sympathetic Nervous System

A part of the autonomic nervous system that prepares the body for physical activity by accelerating the heart rate, widening air passages, and other physiological changes.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for transmitting information to and from the central nervous system.

Somatic Nervous System

Part of the peripheral nervous system associated with the voluntary control of body movements through the action of skeletal muscles.