Where there is an asset revaluation increment that does not reverse a previous decrement,the amount of the increment is credited to:
A) retained profits
B) accumulated depreciation
C) asset revaluation reserve
D) capital.

Question

Quizplus · Accepted Answer

The increment in the asset's revaluation is credited to the asset revaluation reserve as per the accounting standards. This reserve is created to adjust the value of the asset on the balance sheet and is not part of the company's retained earnings or capital.

Where There Is an Asset Revaluation Increment That Does Not