At the time of death, the assets and liabilities are revalued. State this true or false.
None of the above
False
True. At the time of death, the assets and liabilities are revalued.
At the time of retirement, the assets and liabilities are revalued. State this true or false.
At the time of retirement, the assets and liabilities are revalued so that the _______ share in profit/loss due to revaluation can be ascertained.
State True or False: The costs incurred in the process of earning revenue are called assets.