Accounting for IGCSE & O level - Accounting Procedures (Section 8 - No. 37)
Which of the following is NOT an advantage of the revaluation method?
It recognizes assets at their fair value.
It does not require estimates of the useful life.
The depreciation is based on individual option.
It is compliant with accounting standards.
Explanation
The revaluation of an asset does not require the asset's residual value and useful life.
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