2100 Quiz

How do we write off accumulated depreciation while taking into account BCVR?

DR Acc. Depreciation, CR ASSET, CR DTL, CR BCVR

DR Acc. Depreciation, DR ASSET, CR DTL, CR BCVR

DR ASSET , DR DTL, CR Acc. Depreciation, CR BCVR

DR Acc. Depreciation, CR ASSET, CR BCVR

Which of the following is true about the uses of BCVR?

To compare cost of acquisition with the fair value of identifiable net assets

To deduct goodwill as an identifiable asset

To Increase or decrease subsidiary's recorded assets and liabilities book values to FV

To transfer between preacquisition retained earnings and other reserves

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