a-company-revalues-its-long-term-asset-from-100000-to-150000-under-ifrs-how-is-t

Question

A company revalues its long-term asset from $$100,000 to 150$$,000 under IFRS. How is the $50,000 gain reported?

Accepted Answer

As part of comprehensive income

Answer

As a direct increase in equity

Answer

As a deferred tax liability

Answer

As part of net income

A company revalues its long-term asset from \$100,000 to \$150,000 under IFRS. How is the \$50,000 gain reported?