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
Correct Answer:
Verified
Correct Answer:
Verified
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