For the increase in the value of assets , the journal entry is -

None of the above

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Revaluation A/c Dr.

To Asset A/c

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Asset A/c Dr.

To Revaluation

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Revaluation A/c Dr.

To Bank A/c

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Solution

The correct option is C
Asset A/c Dr.

To Revaluation

For the increase in the value of assets, the journal entry is -

Asset A/c Dr.

To Revaluation

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