Under IFRS, according to the revaluation model, an item of property, plant, and equipment must be carried at ?

Question

A. Cost minus any accumulated depreciation.

B. Cost minus residual value.

C. Fair value minus any subsequent accumulated depreciation and impairment losses.

D. The lower of cost or net realizable value.

Muhammad Nadeem Khan · Answer

C. Fair value minus any subsequent accumulated depreciation and impairment losses.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN · Answer

Option >>>>>>>>>>>>>>>>>>>>>>> C. Fair value minus any subsequent accumulated depreciation and impairment losses.

Muhammad Ramzan Tufail ACCA · Answer

(C) is the Correct Ans.

Cost models describe that PP & E should be recognized at cost less and accumulated depreciation, But the revaluation model describe that PP & E should be recognized at Revalued amount. And the revalued amount is the fair value minus any subsequent accumulated depreciation and impairment losses.

Produits Par Bayt.com

Utilisez l'Appli de Bayt.com

Communiquez avec les autres et partagez vos connaissances professionnelles

Under IFRS, according to the revaluation model, an item of property, plant, and equipment must be carried at ?

Recherches Populaires

More Questions Like This