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Which of the following is/are required for disclosure of revalued assets in a company’s financial
statements?
(1) The methods and significant assumptions applied in estimating the value
(2) Whether an independent valuer was involved in the valuation
(3) How certain the directors are that the valuation will not change in the next five years
O 1only
O 1 and 2 only
O 2 only
O All three are required
The correct answer is (1) and (2). But disclosure about revalued assets in study book i didn’t see (1)..Question from Bpp study book. Correct answer is (1) and (2) or only (2) ? If (1) is also true what does it mean? Thanks in advance for your help
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