In Relation to a Revaluation Surplus, an Entity

question 1

Multiple Choice

In relation to a revaluation surplus, an entity:

• A) cannot use this surplus for the payment of future dividends.
• B) can transfer this surplus to retained earnings when the asset is derecognised or used.
• C) cannot transfer this surplus to any other reserve account.
• D) can transfer the surplus to the current period profit or loss when the asset is disposed of.

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Definitions:

Panic

A sudden, overwhelming feeling of fear or anxiety that can result in extreme and unthinking behavior.

Generalized Anxiety

A psychological disorder characterized by excessive, persistent, and unreasonable worry about everyday matters, often accompanied by physical symptoms.

Phobia

A phobia is an excessive and irrational fear response to a specific object, situation, or activity, often leading to avoidance behavior.

Obsessive-Compulsive

Pertaining to a psychological disorder characterized by unwanted repetitive thoughts (obsessions) and/or actions (compulsions).