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Question

In case of Revaluation account is not prepared, the assets and liabilities appear in the books of the reconstituted firm at their :



Your Answer
A

realisable values

Your Answer
B

revalued figures

Your Answer
C

market values

Correct Answer
D

old book values


Solution

The correct option is A

old book values


In case of Revaluation account is not prepared, the assets and liabilities appear in the books of the reconstituted firm at their old book values

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