Which Statement Relating to Revaluations of Non-Current Assets Is Not

question 20

Multiple Choice

Which statement relating to revaluations of non-current assets is not true?

• A) A revaluation increase is regarded as income to be added to the firm's profit for the year.
• B) Future depreciation charges will be based on the revalued carrying amount of the asset.
• C) Before assets are revalued any existing accumulated depreciation must be written off against the asset account.
• D) A revaluation decrease should be included as a reduction in profit.

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