When an Item of Property,plant and Equipment Is Derecognised the Treatment

Multiple Choice

When an item of property,plant and equipment is derecognised the treatment of any asset revaluation reserve that relates to an asset include:

A) debiting the asset revaluation reserve in the journal entry to record the profit or loss on sale of the asset.
B) transferring the relevant amount out of the asset revaluation reserve and showing it as revenue in the income statement.
C) transferring the asset revaluation reserve to retained earnings.
D) writing off the amount out of the asset revaluation reserve against the remaining assets in the class of assets to which the asset that was sold belonged.