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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
Is there an error in this question or solution?
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