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  2. Topic
    Business
  3. Study Set
    Australian Financial Accounting
  4. Exam
    Exam 6: Revaluations and Impairment Testing of Non-Current Assets
  5. Question
    AASB 116 Requires That Where the Replacement Cost of a Non-Current
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AASB 116 Requires That Where the Replacement Cost of a Non-Current

Question 35

Question 35

True/False

AASB 116 requires that where the replacement cost of a non-current asset is less than its carrying value,the asset should be written down to its replacement cost.

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