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प्रश्न
Select the most appropriate answer from the alternatives given below :
Increase in the value of assets should be ___________ to profit and loss adjustment account.
विकल्प
debited
credited
added
none of there
MCQ
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उत्तर
Increase in the value of assets should be credited to profit and loss adjustment account.
Explanation: Increase in the value of assets represents appreciation and is a gain for the firm. Therefore, the increased value (of asset) is shown on credit side of the Revaluation Account.
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