Troubadour Limited Had an Existing Revaluation Surplus in Respect to an Item

question 6

Multiple Choice

Troubadour Limited had an existing revaluation surplus in respect to an item of Plant that had been derecognised.An appropriate journal entry to transfer the surplus to retained earnings would include:

• A)DR Gain on revaluation - OCI
• B)CR Asset revaluation surplus
• C)DR Retained earnings
• D)CR Retained earnings.

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Definitions:

Third-Party Logistics Service Providers (3PLs)

Companies that provide outsourced logistics services to businesses for part, or all of their supply chain management functions.

Logistics

The detailed coordination of a complex operation involving people, facilities, or supplies, in the transportation, warehousing, and distribution of goods.

Economic Regulations

Laws and rules imposed by the government aimed at controlling prices, competition, market entries, or exits to ensure fair economic practices.

Safety Regulations

Rules and guidelines developed to protect the health and well-being of individuals, often enforced by governing bodies.