Once a Class of Non-Current Assets Has Been Revalued,AASB 116

Multiple Choice

Once a class of non-current assets has been revalued,AASB 116 requires that:

A) Directors continue to revalue the class of assets on an ad hoc basis.
B) Revaluations must be undertaken regularly enough to ensure that the carrying amount of each asset in the class of assets does not differ materially from its fair value at reporting date.
C) All assets in the class must be revalued every 3 years.
D) Revaluations must be undertaken regularly enough to ensure that the carrying amount of the class of assets does not differ from its fair value at reporting date.
E) None of the given answers.