How Many of These Are Requirements of IAS 16/AASB 116

question 40

Multiple Choice

How many of these are requirements of IAS 16/AASB 116?
An entire class of non-current assets must be revalued together.
If the revaluation model is adopted non-current assets should be revalued to either fair value or the value in use.
Before a depreciable asset is revalued accumulated depreciation should be written back to the asset account.

• A) 0
• B) 1
• C) 2
• D) 3

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An approach to information and claims with an open mind but with a critical eye towards evidence and rationale.

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