Where the value of revalued non-current assets does not change frequently and is not material,IAS 16 suggests that revaluations:
A)may be undertaken when next convenient.
B)should be undertaken every 3 to 5 years.
C)may be undertaken for individual assets within a class.
D)should be suspended and the entity should switch back to cost.

Question

Quizplus · Accepted Answer

IAS 16 suggests that revaluations should be carried out with sufficient regularity, typically every 3 to 5 years, to ensure that the carrying amount does not differ materially from the fair value.

Where the Value of Revalued Non-Current Assets Does Not Change