Which of the following statements is NOT correct in relation to disclosure of property, plant and equipment balances:
A) Paragraph 79 of IAS 16 contains disclosure that are encouraged, but not required in relation to property, plant and equipment.
B) An entity must disclose the useful life estimates for each class of assets.
C) A summary of movements in the revaluation surplus is required to be disclosed.
D) Information on assets carried at revalued amounts must be disclosed on an individual asset basis.
Correct Answer:
Verified
Q1: After an item of property, plant and
Q3: Under the cost model, after initial recognition
Q3: Revaluations under AASB 116 Property,Plant and Equipment
Q8: Replicator Limited acquired an item of plant
Q9: The cost of an item of property,
Q10: Use the following information to answer this
Q11: Jackson Limited acquired a bundle of assets
Q17: When a company recognises a depreciation credit
Q18: Property,plant and equipment includes items that are:
A)intangible
B)held
Q19: AASB 116 requires disclosure, for each class
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