Which of the following assets cannot be revalued above their cost in the accounting records of the subsidiary?
A) Inventory
B) Plant and equipment
C) Goodwill
D) Both a and c

Question

Quizplus · Accepted Answer

Inventory and goodwill cannot be revalued above their cost in the accounting records. Inventory is valued at the lower of cost or net realizable value, and goodwill, which is an intangible asset, is not revalued upwards; it is tested for impairment instead.

Which of the Following Assets Cannot Be Revalued Above Their