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Outline the rules associated with asset revaluations under the fair value model of AASB116, describing (i) what movements are recorded, (ii) what happens to the

Outline the rules associated with asset revaluations under the fair value model of AASB116, describing (i) what movements are recorded, (ii) what happens to the accumulated depreciation account, and (iii) the impact on depreciation expense in subsequent years.

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