On 1 January 20X0 an Asset That Had a Useful

question 18

Multiple Choice

On 1 January 20X0 an asset that had a useful life of five years and a cost of $100 000,had a carrying value of $60 000.(The asset had been depreciated for two years at $20 000 per annum) .On 1 January 20X0 it was decided to revalue the asset upwards to $90 000 with no change in its useful life.A year after the revaluation on 1 January 20X1 the asset was sold for $80 000.Under the provisions of AASB 116,the gain or loss on disposal is:

• A) $10 000 gain
• B) $20 000 gain
• C) $10 000 loss
• D) $30 000 gain

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Definitions:

Facial-feedback Hypothesis

The concept that emotional experiences can be shaped by facial expressions.

Cannon-Bard Theory

The Cannon-Bard theory of emotion posits that emotional and physiological responses to stimuli occur simultaneously, challenging the notion that emotions result from the physiological arousal.

Reappraisal

Reappraisal is a cognitive process that involves changing one's interpretation of a situation to alter its emotional impact.

Laughter Groups

Organized gatherings where people come together to engage in laughter exercises and activities for health and happiness benefits.