IFRS permits the presentation of plant assets at their fair market value because ________.

Name: IFRS permits the presentation of plant assets at their fair market value because ________.
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

IFRS allows the presentation of plant assets at their fair market value because it may be more relevant to financial statement users, as it provides a more accurate representation of the asset's value at the reporting date. It is not due to requirements of U.S. GAAP, feasibility of computation, or user indifference.

IFRS Permits the Presentation of Plant Assets at Their Fair