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Which is basic accounting entry for a revaluation decrease

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Reference no: EM132636085

Problem 1: The basic accounting entry for a revaluation decrease of a non-depreciable asset that is not a reversal of an original increase is which of the following?

Select one:

a. Debit asset; credit revaluation surplus reserve

b. Debit revaluation surplus reserve; credit asset

c. Debit expense on revaluation of asset; credit asset

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

Reference no: EM132636085

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