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What is basic accounting entry for an initial revaluation

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Problem 1: What is the basic accounting entry for an initial revaluation decrease of a non-depreciable asset?

a. Debit asset; credit expense on the revaluation of asset

b. Debit expense on revaluation of asset; credit asset

c. Debit asset; credit revaluation surplus reserve

d. Debit revaluation surplus reserve; credit asset

Reference no: EM132989777

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