Reference no: EM133002851
Problem 1: Which is true about the revaluation model for valuing PPE?
a) Revaluation of assets must be made on the last day of the fiscal year.
b) Revaluation of assets must be made on the same date each year.
c) There is no rule for the frequency or date of revaluation.
d) Revaluation of assets must be made every two years.
Problem 2: A revaluation increase is credited to
a) Revaluation surplus only.
b) Income to the extent that it reverses a revaluation decrease of another asset previously recognized as an expense.
c) Additional paid in capital.
d) Income to the extent that it reverses a revaluation decrease of the same asset previously recognized as an expense.
Problem 1: Under IAS 16 Property, Plant, and Equipment, an entity may choose to measure assets using the revaluation model. If this model is chosen, revaluation increments are recognized:
a) Directly in equity.
b) In profit or loss of the period in which the revaluation is undertaken.
c) As a deferred credit in the balance sheet.
d) As an increase in the balance of the relevant accumulated depreciation account.
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Which statement is incorrect regarding change in an asset
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Which revaluations are necessary only every
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Which revaluation increments are recognized
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Discuss the role of explanatory notes
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What is the net advantage to leasing
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Calculate the profit margin of chestnut
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Find the weighted average cost of capital
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