Assets that are experiencing rapid price changes must be revalued on an annual basis, otherwise less frequent revaluation is acceptable.

Question

Quizplus · Accepted Answer

According to accounting standards, assets that are experiencing rapid price changes must be revalued on an annual basis to reflect their current market value. However, assets that do not experience significant price changes can be revalued less frequently, such as every three to five years.

Assets That Are Experiencing Rapid Price Changes Must Be Revalued