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How many of requirements of ias

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Reference no: EM132631256

Problem 1: How many of these are requirements of IAS 16/AASB 116?

  1. An entire class of non-current assets must be revalued together.
  2. If the revaluation model is adopted non-current assets should be revalued to either fair value or the value in use.
  3. Before a depreciable asset is revalued accumulated depreciation should be written back to the asset account.

a. 0

b. 1

c. 2

d. 3

Reference no: EM132631256

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