Multiple Choice
Which of the following statements is not correct in relation to the disclosure of property, plant and equipment balances?
A) Paragraph 79 of AASB 116 contains information that entities are encouraged to disclose, but not required to do so.
B) An entity must disclose the useful life estimates for each class of assets.
C) A summary of movements in the revaluation surplus must be disclosed.
D) Information on assets carried at revalued amounts must be disclosed on an individual asset basis.
Correct Answer:
Verified
Correct Answer:
Verified
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