Revaluation Accounting Is an Option, Not a Requirement Under IFRS

question 119

True/False

Revaluation accounting is an option, not a requirement under IFRS.

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Definitions:

Tolerance

Tolerance is the capacity to endure pain or hardship, or in pharmacology, it refers to the body's adaptation to a drug which reduces its effects over time.

Quarrelsomeness

The tendency to engage in arguments or disputes easily, often with a hostile attitude.

Mood Swings

Rapid and often extreme fluctuations in one's emotional state, where feelings can change from highs (euphoria) to lows (despair) quickly or without apparent reason.

Impaired Mental

Refers to a reduction in cognitive functioning that affects processes such as memory, reasoning, and problem-solving.