How Should a Revaluation Entry Generally Not Be Booked

question 36

Multiple Choice

How should a revaluation entry generally not be booked?

• A)Using the "proportional method."
• B)Adjusting the difference between fair value and carrying value to profit and loss.
• C)Adjusting the carrying value and accumulated depreciation by the same percentage so that the carrying amount equals fair value after revaluation.
• D)Restating the gross carrying amount to fair value and removing the accumulated depreciation.

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