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Question
An increase in the value of liability will be recorded on the ____________ side of the revaluation account.
Options
debit
either debit or credit
credit
debit and credit both
MCQ
Fill in the Blanks
Solution
An increase in the value of liability will be recorded on the debit side of the revaluation account.
shaalaa.com
Accounting for Revaluation of Assets and Reassessment of Liabilities
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