Revaluation method of depreciation is suitable for _________.

loose tools

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plants and machinery

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agricultural products

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intangible assets like goodwill

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Solution

The correct option is B loose tools
Under revaluation method of depreciation, the asset are revalued each year. The method is normally adopted to charge depreciation on numerous inexpensive fixed assets like small tools, live stock, patents, copyright, and other assets of such nature which are constantly changing and their period of life is most uncertain.

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