A Revaluation Increment Reversing a Previous Revaluation Decrement Must Be

question 38

True/False

A revaluation increment reversing a previous revaluation decrement must be credited to the profit or loss.

---

Definitions:

Durable Power of Attorney

A legal document that grants another person the authority to make decisions on behalf of the grantor, particularly in matters of finance and healthcare, and remains in effect even if the grantor becomes incapacitated.

Health-Care Power of Attorney

A legal document that designates an individual to make medical decisions on another's behalf in the event they are unable to do so themselves.

Constructive Trust

A legal remedy imposed by a court to prevent unjust enrichment by transferring property from the holder to the rightful beneficiary.

Living Will

A legal document that specifies an individual's preferences regarding medical treatment in situations where they are unable to express informed consent.