What Is the Basic Accounting Entry for an Initial Revaluation

question 23

Multiple Choice

What is the basic accounting entry for an initial revaluation decrease of a non-depreciable asset?

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

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Definitions:

Blink

A rapid closing and opening of the eyelid, which is a reflex action protecting the eye from irritants and helping to spread tears over the surface of the eye.

Peripheral Vision

The ability to see objects that are outside the direct line of vision, near the edges of the field of view.

Neonates

Newborn infants, especially those under four weeks old.

Older Children

Older children refers to youths who are in the middle childhood phase, typically between the ages of 6 and 12, displaying advanced cognitive and physical development compared to younger children.