Multiple Choice
Which of the following is the basic accounting entry for a revaluation decrease of a non-depreciable asset that is not a reversal of an original increase?
A) DR Revaluation surplus reserve; CR Asset
B) DR Asset; CR Revaluation surplus reserve
C) DR Expense on revaluation of asset; CR Asset
D) DR Asset; CR Expense on the revaluation of asset
Correct Answer:
Verified
Correct Answer:
Verified
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