If an asset increases in value, the increase is noted as________. Select one: a. an increase in net profit in the statement of comprehensive income b. an increase in retained earnings in statement of...

If an asset increases in value, the increase is noted as________.

Select one:

a. an increase in net profit in the statement of comprehensive income

b. an increase in retained earnings in statement of financial position

c. an increase in “other profit” in statement of comprehensive income

d. an increase in revaluation surplus in the statement of financial position and other comprehensive income in the statement of comprehensive income

Jun 01, 2022

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