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Can elect to switch to the other method at a later stage

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Question 1: In accordance with AASB 116 Property Plant and Equipment (PPE) and entity has an option to elect the cost model or fair value (revaluation model) for subsequent measurement of PPE. Where an entity elects to use either cost or fair value as the basis for measuring property, plant and equipment, can it elect to switch to the other method at a later stage. Discuss.

Reference no: EM132555159

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