IAS 16 Property,Plant and Equipment allows both cost and revaluation models to be applied as a measurement basis to one class of property,plant and equipment.

Name: IAS 16 Property,Plant and Equipment allows both cost and revaluation models to be applied as a measurement basis to one class of property,plant and equipment.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

IAS 16 requires that the same measurement basis (either cost or revaluation model) be applied to an entire class of property, plant, and equipment, not a mix within the same class.

IAS 16 Property,Plant and Equipment Allows Both Cost and Revaluation