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Which of the following transactions is debited to Revaluation Account? - Accounts

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MCQ

Which of the following transactions is debited to Revaluation Account?

Options

  • Increase in the value of Furniture

  • Increase in Provision for Doubtful Debts

  • Creditors discharged at a discount

  • Loss on revaluation of all assets and reassessment of all liabilities

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Solution

Increase in Provision for Doubtful Debts

Concept: Preparation of Revaluation Account and Balance Sheet
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