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  3. in case a revalued asset is disposed of, any reval

In case a revalued asset is disposed of, any revaluation surplus must be transferred directly...

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Accounting

In case a revalued asset is disposed of, any revaluation surplus must be transferred directly to retained earnings. It is not allowed to be left in equity under the heading revaluation surplus. The transfer to retained earnings should be made through profit or loss.

Select one:

True

False

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