Chien Bleu Ltd

question 28

Multiple Choice

Chien Bleu Ltd.purchased a building in 2004 for €10,000,000 and as of December 31,2010 had recorded accumulated depreciation on the building of €3,000,000. December 31,2010 the company conducted its first revaluation when the fair value was €12,000,000. According to IAS 16,what account should be credited for €5,000,000?

• A)retained earnings
• B)gain from revaluation of building
• C)revaluation surplus
• D)revaluation revenue

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Definitions:

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the medulla oblongata in the brainstem to the lumbar region of the vertebral column.

Autonomic Nervous System

A part of the nervous system responsible for controlling involuntary bodily functions such as heartbeat and digestion.

Sympathetic

Referring to the part of the autonomic nervous system that prepares the body for action and stress responses, often described as "fight or flight."

Parasympathetic

The division of the autonomic nervous system responsible for conserving energy and promoting the "rest and digest" response.