For items carried at revaluation amounts,the revalued amount is restated by applying the change in the price index from the acquisition date.

Name: For items carried at revaluation amounts,the revalued amount is restated by applying the change in the price index from the acquisition date.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The revalued amount is typically adjusted based on the fair value at the date of revaluation, not by applying a price index from the acquisition date.

For Items Carried at Revaluation Amounts,the Revalued Amount Is Restated