Which Statement Concerning Revaluations That Reverse Prior Adjustments in Value

question 41

Multiple Choice

Which statement concerning revaluations that reverse prior adjustments in value is untrue?

• A) A revaluation decrease that reverses a previous increase should be recognised as a decrease in other comprehensive income to the extent of any credit balance existing in the revaluation surplus reserve account.
• B) A revaluation increase that reverses a previous decrease should be recognised in the income statement to the extent that it reverses any previously downward revaluation of the same asset.
• C) A debit to a revaluation surplus reserve account that is a reversal of a previous revaluation increase should not exceed the amount of the original credit.
• D) When a change in valuation is a reversal of a previous revaluation accumulated depreciation does not have to be written off against the asset before the revaluation is recorded.

---

Definitions:

Arterial Insufficiency

A condition where there is inadequate blood flow through the arteries, often leading to pain and tissue damage.

Venous Insufficiency

A condition where the flow of blood through the veins is inadequate, causing blood to pool, often in the legs.

Musculoskeletal Abnormalities

Anomalies or dysfunctions in the bones, muscles, joints, or other components of the musculoskeletal system, affecting movement and posture.

Radial Pulses

The pulse felt at the wrist on the side where the radial artery is located, commonly used to measure heart rate.