Which Statement Is Correct

question 17

Multiple Choice

Which statement is correct?

• A) A change between the cost model and the revaluation model may be made only if the change is material
• B) A change between the cost model and the revaluation model may be made only if the change results in financial information that is more relevant and reliable as per AASB 108
• C) For existing assets a new selection can be made each year between the cost model and the revaluation model
• D) A change between the cost model and the revaluation model is never permitted

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Definitions:

States' Rights Democrats

A faction within the Democratic Party that emerged in the mid-20th century, advocating for states' rights to legislate and govern without federal intervention, particularly on issues of racial segregation.

J.Strom Thurmond

A long-serving U.S. senator known for his strong support of racial segregation and opposition to civil rights legislation.

Taft-Hartley Act

A 1947 United States federal law that restricts the activities and power of labor unions.

AFL

refers to the American Federation of Labor, a national federation of labor unions in the United States, founded in 1886, focusing on skilled workers.