According to IAS 16/AASB 116, how many of the following are factors contributing to the decline in an asset's future economic benefits?
$\bullet$Commercial obsolescence
$\bullet$Technical obsolescence
$\bullet$Wear and tear
$\bullet$Inflation

Question

Quizplus · Accepted Answer

According to IAS 16/AASB 116, factors contributing to the decline in an asset's future economic benefits include commercial obsolescence, technical obsolescence and wear and tear. Inflation is not considered a factor contributing to the decline of an asset's future economic benefits. Therefore, the correct choice is C), which includes the first three factors listed.

According to IAS 16/AASB 116, How Many of the Following ∙\bullet∙

According to IAS 16/AASB 116, How Many of the Following $\bullet$