Under AASB 116,the Net Method of Treating Accumulated Depreciation When

question 24

Multiple Choice

Under AASB 116,the net method of treating accumulated depreciation when assets are re-valued requires:

• A) accumulated depreciation to be increased by the same proportion as the gross carrying amount of the asset, so the carrying amount of the asset represents its re-valued amount
• B) accumulated depreciation to be closed to the asset account before re-valuation
• C) accumulated depreciation to be written back to net profit on the date of re-valuation
• D) accumulated depreciation to be ignored at re-valuation

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A negative reaction experienced after receiving an inactive substance or treatment, which cannot be attributed to the properties of the substance itself but to the individual's expectations.

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