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:

Sex Chromosomes

Chromosomes that determine the biological sex of an individual, with human males typically having one X and one Y chromosome and females having two X chromosomes.

Autism Spectrum Disorder

A developmental disorder characterized by difficulties with social interaction and communication, and by restricted or repetitive patterns of thought and behavior.

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by patterns of inattention and/or hyperactivity-impulsivity that interfere with functioning or development.

Antisocial Personality Disorder

A personality disorder in which a person (usually a man) exhibits a lack of conscience for wrongdoing, even toward friends and family members; may be aggressive and ruthless or a clever con artist.