The Basic Accounting Entry for a Revaluation Decrease of a Non-Depreciable

question 8

Multiple Choice

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

• A) Debit expense on revaluation of asset; credit asset
• B) Debit asset; credit expense on the revaluation of asset
• C) Debit revaluation surplus reserve; credit asset
• D) Debit asset; credit revaluation surplus reserve

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Standard Of Living

The degree of riches, ease, possessions, and essentials accessible to a specific social class or region.

Most Important

The highest priority or value assigned to an element or factor in a set of choices or decisions.

Clustering

The act of grouping a set of objects in such a way that objects in the same group are more similar to each other than to those in other groups.

Performance Advantage

A competitive edge that a company or economy holds, due to factors like superior efficiency, technology, or innovations, contributing to better performance.