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Under IFRS, when an asset is revalued upward, subsequent depreciation is based on: Multiple Choice the assets original cost. the method used for determining depreciation
Under IFRS, when an asset is revalued upward, subsequent depreciation is based on:
Multiple Choice
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the assets original cost.
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the method used for determining depreciation on the companys tax returns.
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the assets revaluation net book value which is the fair value at the time of revaluation.
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the amount of future cash flows the asset is expected to generate.
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