Under the revaluation option in IFRS, if an asset's fair value is higher than its book value,

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Under the revaluation option in IFRS, if an asset's fair value is higher than its book value, the difference is reported as a surplus in ______; and, if its book value is higher than fair value, the difference is reported as an expense in______.

other comprehensive income; other comprehensive income

other comprehensive income; net income

net income; other comprehensive income

net income; net income

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International Accounting

ISBN: 978-0078110955

3rd Edition

Authors: Timothy Doupnik, Hector Perera

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Posted Date: Dec 18, 2023 03:51 AM

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Under the revaluation option in IFRS, if an asset's fair value is higher than its book value,

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International Accounting

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