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Discuss the appropriate accounting treatment

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Question - Hamigo Berhad purchased a plant for RM8 million on 1 May 2018.The asset is depreciated over eight (8) years on the straight-line basis with no residual value. At 30 April 2019, the asset was revalued to RM10.5 million with no changes to useful life. At 30 April 2020, the asset's value has fallen to RM6 million. Discuss the appropriate accounting treatment to be taken by the entity.

Reference no: EM132919237

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