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  3. when a bcvr/rsroc item of a non-depreciable asset

When a BCVR/RSROC item of a non-depreciable asset recognised at Group level at acquisition date...

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Accounting

When a BCVR/RSROC item of a non-depreciable asset recognised at Group level at acquisition date on January 2020 (PY) and is now being derecognised by the subsidiary in the current financial year (CY), the treatment related to that BCVR/RSROC item includes:

[Note: BCVR = Business combination valuation reserve; RSROC = Revaluation surplus recognised on consolidation]

Group of answer choices

Debiting BCVR/RSROC and crediting to record the gain on sale of the asset after tax at group level

Debiting retained earnings b/f and crediting BCVR/RSROC at group level

transferring the amount out from BCVR/RSROC and showing it as revenue of the group

Debiting to record the profit on disposal of the asset after tax and crediting BCVR/RSROC at group level

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