Asset revaluations,unlike in Canada,have been acceptable in many countries for accounting purposes.Under what circumstances have these adjustments been allowed?

Question

Quizplus · Accepted Answer

Asset revaluations have been allowed in many countries for accounting purposes under the circumstances of price level adjusted historical costs, periodic adjustment of asset valuations to current replacement cost, and immediate write off of purchased goodwill to equities.

Asset Revaluations,unlike in Canada,have Been Acceptable in Many Countries for Accounting