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There is good reason for AASB 138 to prohibit the revaluation of many intangible assets compared to AASB 116 Property, Plant & Equipment. Required: i.
There is good reason for AASB 138 to prohibit the revaluation of many intangible assets compared to AASB 116 Property, Plant & Equipment." Required: i. Explain the restriction that exists in AASB 138 for the revaluation of many intangible assets that does not exist in AASB 116 for the revaluation of property, plant and equipment. (2 marks) ii. Explain why this restriction applies to intangible assets but not to tangible assets such as plant, plant and equipment. (2 marks) iii. Does this restriction improve or reduce the decision-usefulness of financial statements for users? Explain your reasons. (1 mark)
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