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According to IAS 16/AASB 116, Which of the Following Are

question 56

Multiple Choice

According to IAS 16/AASB 116, which of the following are factors contributing to the decline in an asset's future economic benefits?
I. Inflation
II. Wear and tear
III. Commercial obsolescence
IV. Technical obsolescence


Definitions:

Bogus Pipeline Technique

A psychological technique used in social research to elicit honest responses from participants by falsely claiming the existence of a lie-detector-like mechanism.

Hierarchies

Systems or organizations in which members are ranked one above the other according to status or authority.

Free Market System

An economic system based on supply and demand with minimal government intervention, where prices for goods and services are determined freely by the open market.

Cluster

A group of similar things or people positioned or occurring closely together, often used to refer to a statistical analysis method that identifies groups of similar data points.

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