Test your Intermediate-level Statement Of Changes In Equity skills in Financial Statements. This timed assessment evaluates your expertise in Accounting.
Duration: 5 minutes
•40 questions
Time Remaining: 05:00
Progress: 0%
40 questions remaining
Question 1 of 40Assessment
A company revalues its property, plant, and equipment upwards, creating a revaluation surplus. What is the immediate impact of this transaction on retained earnings?