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Determine non-current assets using revaluation model

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Reference no: EM132477466

Problem 1: AASB 116 permits which of the following with respect to measurement of non-current assets using revaluation model?

Select one:

a. Net revaluation decrements for each class of asset are initially debited to revaluation surplus.

b. All increments arising from revaluation are credited to revaluation surplus.

c. Use of cost model to measure other assets in the same class.

d. None of the given answers is correct.

 

Reference no: EM132477466

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