Accounting for IGCSE & O level - Accounting Procedures (Section 16 - No. 16)
Which of these situations can trigger a revaluation of an asset?
A significant change in the asset's market value.
A change in the useful life of the asset.
Routine maintenance of the asset.
Technological advancement rendering the asset obsolete.
Explanation
Revaluation is usually triggered by changes in an asset's value in the market or changes in the technology that makes it less valuable. Useful life can also be adjusted
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