CAF-6 · Chapter 12 · Question 14 of 15
If an intangible asset is revalued upwards, where is the initial increase generally recognized?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) In other comprehensive income and accumulated in equity under 'revaluation surplus'.
Explanation
An initial revaluation increase is recognized in other comprehensive income and accumulated in equity under the heading of revaluation surplus.
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