How Is Revaluation of Non-Current Assets Accounted For

question 73

Multiple Choice

How is revaluation of non-current assets accounted for?

• A)Revaluation surplus is always booked to profit and loss.
• B)Revaluation loss is booked to other comprehensive income.
• C)Cumulative revaluation loss is booked to profit and loss.
• D)Revaluation surplus is not recognized in other comprehensive income.

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Definitions:

Carolina

Refers collectively or individually to the U.S. states of North Carolina and South Carolina, known for their historical significance in early American history.

New England Colonists

Early European settlers in the northeastern part of the United States, particularly noted for their role in establishing some of the first successful British colonies.

England

A country that is part of the United Kingdom, situated on the island of Great Britain.

King Philip's War

A conflict between American Indian inhabitants of New England and English colonists and their allies in 1675–78, one of the bloodiest wars per capita in U.S. history.