Under AASB 116

question 10

Multiple Choice

Under AASB 116:

• A) net revaluation decrements are normally required to be credited to a revaluation surplus
• B) net revaluation increments are normally required to be credited to an income account
• C) net revaluation decrements are normally required to be debited to a revaluation surplus
• D) net revaluation increments are normally required to be credited to a revaluation surplus

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Definitions:

Lvalues

Expressions that refer to memory locations and thereby an object that occupies some identifiable location in memory (e.g., variables).

Rvalues

Expressions that refer to data values not associated with a persistent memory location.

Array

A data structure that stores a collection of items at contiguous memory locations where each item can be accessed by an index.

Implicit Conversion

Automatic transformation of a value from one data type to another by the compiler.