In case a revalued asset is disposed of, any revaluation surplus must be transferred directly...
80.2K
Verified Solution
Link Copied!
Question
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
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
