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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

  • the assets original cost.

  • the method used for determining depreciation on the companys tax returns.

  • the assets revaluation net book value which is the fair value at the time of revaluation.

  • the amount of future cash flows the asset is expected to generate.

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