Which of the following assets cannot be revalued above their cost in the accounting records of the subsidiary?
A) Inventories.
B) Plant and equipment.
C) Goodwill.
D) Inventories and goodwill.

Question

Quizplus · Accepted Answer

According to accounting standards, inventories cannot be revalued above their cost, and the same goes for goodwill. Therefore, the correct answer is D, as it includes both inventories and goodwill. Plant and equipment can be revalued above their cost in certain situations.

Which of the Following Assets Cannot Be Revalued Above Their