Which of the Following Is the Basic Accounting Entry for a Revaluation

question 11

Multiple Choice

Which of the following is the basic accounting entry for a revaluation decrease of a non-depreciable asset that is not a reversal of an original increase?

• A) DR Revaluation surplus reserve; CR Asset
• B) DR Asset; CR Revaluation surplus reserve
• C) DR Expense on revaluation of asset; CR Asset
• D) DR Asset; CR Expense on the revaluation of asset

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