Asset revaluations, unlike in Canada, have been acceptable in many countries for accounting purposes. Which of the following adjustments have been allowed?
A) Price level adjusted historical costs.
B) Periodic adjustment of asset valuations to current replacement cost.
C) Immediate write off of purchased goodwill to equity.
D) All of the above.

Question

Quizplus · Accepted Answer

Periodic adjustment of asset valuations to current replacement cost and immediate write off of purchased goodwill to equity are not allowed in Canada, but they have been acceptable in many countries for accounting purposes.

Asset Revaluations, Unlike in Canada, Have Been Acceptable in Many