The statement concerning the measurement of tangible assets that is not true is:
A)The traditional approach has been to measure tangible assets at historical cost
B)IAS 16 requires the use of the revaluation model for subsequent measurement of tangible assets
C)IAS 16 permits the use of a current value measurement model for tangible assets
D)None of the statements are untrue,i.e.all are true statements

Question

Quizplus · Accepted Answer

IAS 16 permits the use of either the cost model or revaluation model for subsequent measurement of tangible assets, but it does not require the use of the revaluation model.

The Statement Concerning the Measurement of Tangible Assets That Is