Which of the following is an argument to support the use of the revaluation model of accounting for property, plant & equipment?
A) the revaluation model is consistent with US GAAP
B) the revaluation model can be selectively applied to individual assets
C) the ongoing costs associated with applying the revaluation model provide a disincentive to applying the model
D) the revaluation model provides more relevant and reliable information than the cost model
Correct Answer:
Verified
Q16: Use the following information to answer questions
Q17: When using the revaluation model:
A)ongoing record keeping
Q17: When a company recognises a depreciation credit
Q19: The cost of property,plant and equipment is
Q20: Wilson Limited applied the straight-line method of
Q22: ABC Limited acquired an item of plant
Q23: For the purposes of recognising a non-current
Q24: When applying a revaluation measurement model to
Q25: An entity acquired an item of Plant
Q26: Subsequent to the initial recognition of an
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