Which Is Correct with Respect to the Accounting Treatment Under

question 50

Multiple Choice

Which is correct with respect to the accounting treatment under the cost or revaluation model?

• A)Companies can choose to apply the revaluation model to each individual PPE or intangible asset under IFRS.
• B)Companies can choose to apply the revaluation model to each class of PPE or intangible asset under IFRS.
• C)Companies can choose to apply the revaluation model to each individual PPE or intangible asset under ASPE.
• D)Companies can choose to apply the revaluation model to each class PPE or intangible asset under ASPE.

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Definitions:

Refrigerators

Appliances used for keeping food and drinks cold, utilizing a thermally insulated compartment and a heat pump.

Thermostats

Devices that automatically regulate temperature by controlling the operation of heating or cooling systems.

NOOK

An e-book reader and tablet designed by Barnes & Noble, providing users access to a vast library of digital books, newspapers, and magazines.

Kindle

A brand of e-reader devices developed by Amazon, allowing users to buy, download, and read digital books.