Ceist Eile

Ceist Eile is in development. Features, questions and prices may change while we refine it.

Subjects · Leaving Cert Accounting

Leaving Cert Accounting: Fixed asset revaluation

How often Fixed asset revaluation comes up on the Accounting papers, every year it was asked, and questions to try.

HL Asked on 4 of the last 10 Higher Level papers, most recently in 2025.

OL Asked on 4 of the last 10 Ordinary Level papers, most recently in 2023.

Fixed asset revaluation, Higher Level(2 marks)

Quick ones on Fixed asset revaluation.

(a)A surplus on revaluing a building is credited to…
  1. The profit and loss account
  2. A revaluation reserve
  3. Share capital
Show the answers

(a) A revaluation reserve

Your turn: Higher Level questions on Fixed asset revaluation.

Higher Level

Asked on 4 of the last 10 Higher Level papers, most recently in 2025.

Every paper, year by year

YearWhere it came up
2026Not asked
2025Q3
2024Not asked
2023Not asked
2022Q4
2021Not asked
2019Q3
2018Not asked
2017Q3
2016Not asked

Links open the State Examinations Commission’s paper for that year.

Ordinary Level

Asked on 4 of the last 10 Ordinary Level papers, most recently in 2023.

Every paper, year by year

YearWhere it came up
2026Not asked
2025Not asked
2024Not asked
2023Q3
2022Not asked
2021Q4
2019Q3
2018Not asked
2017Q2
2016Not asked

Links open the State Examinations Commission’s paper for that year.

More Fixed asset revaluation questions

Fixed asset revaluation, 2 marks

When a building is revalued, its accumulated depreciation is…

  1. Doubled to match the building's new value
  2. Paid out in cash to the owner
  3. Transferred to the revaluation reserve
Show the answer

Transferred to the revaluation reserve

Dr Provision for depreciation, Cr Revaluation reserve. The building then starts again at its new value.

Fixed asset revaluation, 2 marks

After a building is revalued, future depreciation is based on its…

  1. Selling price
  2. New revalued amount
  3. Original cost
Show the answer

New revalued amount

Once revalued, the building is carried at the new figure, so later depreciation is worked out on that amount.

Fixed asset revaluation, 3 marks

Building cost €200,000; accumulated depreciation €20,000; revalued to €250,000. Revaluation reserve?

  1. €70,000
  2. €50,000
  3. €250,000
Show the answer

€70,000

NBV = €200,000 − €20,000 = €180,000. Gain = €250,000 − €180,000 = €70,000, credited to the revaluation reserve.

Other Accounting topics

All of Leaving Cert Accounting