Accounting for IGCSE & O level - Accounting Procedures (Section 26 - No. 17)
If a company decides to revalue its assets upward, what is the impact on the income statement?
Increases depreciation expense in the future.
Decreases depreciation expense in the future.
No impact on depreciation expense.
Revaluation only impacts the balance sheet.
Explanation
The revaluation would increase the expense.
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