Synergy Ltd

question 39

Multiple Choice

Synergy Ltd. purchased a building in 2008 for €20,000,000 and as of December 31, 2014 had recorded accumulated depreciation on the building of €6,000,000. On December 31, 2014, the company conducted its first revaluation when the fair value was €24,000,000. Under IAS 16, the journal entry recorded on this date would include:

• A) a credit to Revaluation Surplus-Building for €10,000,000.
• B) a debit to Revaluation Surplus-Building for €14,000,000.
• C) a debit to Loss on Revaluation-Building for €14,000,000.
• D) a credit to Loss on Revaluation-Building for €10,000,000.

Understand mechanisms people use to rationalize actions.

Compare conflicting viewpoints on human nature and society's role.

Define and identify the expressions of personality traits and emotions.

Differentiate between nomothetic and idiographic approaches to studying personality.

---

Definitions:

Registered Retirement Savings Plan

A savings and investment account, primarily used in Canada, that provides tax benefits for retirement savings.

Compounded Monthly

Interest calculated and added to the principal balance each month.

Compounded Quarterly

Calculation of interest done four times a year, where the interest is added to the principal and each subsequent interest computation is based on the new principal amount.

Compounded Annually

Pertaining to an interest calculation method where interest is added to the principal at the end of each year, and future interest is calculated on the total.