Asset revaluation reserves arise from:
A) application of the Corporations Act and the accounting standards
B) transfers from retained earnings
C) transfers from cash at bank
D) none of the above

Question

Quizplus · Accepted Answer

Asset revaluation reserves arise from the revaluation of assets as per the requirements of the Corporations Act and accounting standards, which mandate that certain assets be revalued to reflect their fair value.

Asset Revaluation Reserves Arise From