Accounting Standard IAS 16/AASB 116, Property, Plant and Equipment

question 6

Multiple Choice

Accounting standard IAS 16/AASB 116, Property, Plant and Equipment:

• A) requires all assets to be revalued yearly.
• B) requires all assets to be revalued every three years.
• C) requires all assets to be revalued every five years.
• D) does not require an entity to revalue its assets.

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Definitions:

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Historical Facts

Verified and recorded events from the past that are accepted as truth and used as evidence for historical analysis.

Drama Sequence

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