Which of the Following Statements Relating to an Asset Revaluation

question 7

Multiple Choice

Which of the following statements relating to an asset revaluation surplus account is correct?

• A) An entity is able to use this surplus for the payment of future dividends.
• B) An entity is not able to transfer this surplus to any other reserve account.
• C) An entity is not able to use this surplus for the payment of future dividends.
• D) An entity can transfer the surplus to current period profit or loss when the asset is disposed of.

---

Definitions:

Table

A collection of data arranged in rows and columns, commonly used in databases and spreadsheets to organize information.

Primary Key

A unique identifier for each record in a database table, ensuring that no two records are identical and facilitating data retrieval.

Student ID Number

A unique number assigned to students by educational institutions for identification and administrative purposes.

Database

An organized collection of structured information, or data, typically stored electronically in a computer system, and accessed using a database management system (DBMS).