Revaluation model is allowed under IFRS mainly because it is useful in countries where Select one: A. there is a high inventory turnover. B. companies cannot estimate fair value of assets. C. there is a high inflation rates. D. companies cannot determine an appropriate method of depreciation.

Revaluation model is allowed under IFRS mainly because it is useful in countries where Select one: A. there is a high inventory turnover. B. companies cannot estimate fair value of assets. C. there is a high inflation rates. D. companies cannot determine an appropriate method of depreciation.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter16: Advanced Topics Concerning Complex Auditing Judgments

Section: Chapter Questions

Problem 23MCQ

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Revaluation model is allowed under IFRS mainly because it is useful in countries
where Select one: A. there is a high inventory turnover. B. companies cannot estimate
fair value of assets. C. there is a high inflation rates. D. companies cannot determine
an appropriate method of depreciation.

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