ACCA FA · Chapter 11 · Question 1 of 12
Under IAS 1 Presentation of Financial Statements, which of the following is presented in other comprehensive income?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) A gain on the revaluation of property
Explanation
Revaluation gains on property, plant and equipment are recognised in other comprehensive income and accumulated in the revaluation surplus. Profits on disposal and interest received are part of profit or loss. Dividends paid are a transaction with owners shown in the statement of changes in equity.
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