Chien Bleu Ltd

question 36

Multiple Choice

Chien Bleu Ltd. purchased a building in 2009 for €10,000,000 and as of December 31, 2015 had, recorded accumulated depreciation on the building of €3,000,000. On December 31, 2015, 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) Loss on Revaluation-Building
• B) Gain From Revaluation of Building
• C) Revaluation Surplus-Building
• D) Revaluation Revenue-Building

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Definitions:

Diagnostic Criteria

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Specifier

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