How Is a Revaluation Loss on Non-Current Assets Accounted For

question 42

Multiple Choice

How is a revaluation loss on non-current assets accounted for?

• A)Revaluation loss is booked to profit and loss.
• B)Revaluation loss is booked to other comprehensive income.
• C)Revaluation loss is booked to profit and loss or to other comprehensive income, depending on any pre-existing revaluation surplus.
• D)Revaluation loss is not recognized in other comprehensive income.

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Definitions:

Regiochemistry

The study of the principles guiding the direction or position that new bonds form in a molecule during a chemical reaction.

Free Radical Halogenation

A chemical reaction where a halogen atom is introduced into an organic molecule by free radical mechanism, often used in the synthesis of halogenated compounds.

Chlorine

A chemical element with symbol Cl and atomic number 17, known for its extensive use as a disinfectant and in the manufacture of various compounds.

Bromine

A dark red, volatile element of the halogen group, used in a variety of compounds and applications, including flame retardants and photography.