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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