State when the revaluation method is used to depreciate non-current assets
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At the time of acquisition non-current assets are recorded at cost. Under revaluation model non-current assets may be carried at revalued amount i.e. fair value of asset at the date of revaluation less subsequent accumulated depreciation and impairment losses.
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Explanation:
This method is used to keep detailed recording of certain types of non-current assests
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