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- IAS 16 – Property Plant and Equipment 0%
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Question 1 of 10
1. Question
Which of the following is not an example of directly attributable costs?
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Question 2 of 10
2. Question
Which of the following is an example of directly attributable costs?
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Question 3 of 10
3. Question
Which of the following costs shall be included in the carrying amount of an item of property, plant and equipment?
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Question 4 of 10
4. Question
For the purpose of determining whether an exchange transaction has commercial substance, the entity-specific value of the portion of the entity’s operations affected by the transaction shall reflect pre-tax cash flows.
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Question 5 of 10
5. Question
When assets are exchanged; If an entity is able to measure reliably the fair value of either the asset received or the asset given up, then the fair value of the asset given up is used to measure the cost of the asset received __________ the fair value of the asset received is more clearly evident.
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Question 6 of 10
6. Question
The carrying amount of an item of property, plant and equipment may be __________ by government grants in accordance with IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.
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Question 7 of 10
7. Question
An entity shall choose __________ as its accounting policy and shall apply that policy to an entire class of property, plant and equipment.
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Question 8 of 10
8. Question
After recognition as an asset under the cost model, an item of property, plant and equipment shall be carried at its cost plus any accumulated depreciation and any accumulated impairment losses.
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Question 9 of 10
9. Question
After recognition as an asset, an item of property, plant and equipment whose fair value can be measured reliably shall be carried at a __________, being its fair value at the date of the revaluation __________ any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Question 10 of 10
10. Question
How often shall an entity perform the revaluation of an asset under the revaluation method?
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