AASB 116 permits which of the following with respect to measurement of non-current assets using revaluation model?
A) Net revaluation decrements for each class of asset are initially debited to asset revaluation reserve.
B) Use of cost model to measure other assets in the same class.
C) All increments arising from revaluation are credited to asset revaluation reserve.
D) None of the given answers are correct.

Question

Quizplus · Accepted Answer

The Answer of AASB 116 permits which of the following with respect to measurement of non-current assets using revaluation model?
A) Net revaluation decrements for each class of asset are initially debited to asset revaluation reserve.
B) Use of cost model to measure other assets in the same class.
C) All increments arising from revaluation are credited to asset revaluation reserve.
D) None of the given answers are correct.

AASB 116 Permits Which of the Following with Respect to Measurement