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Revaluation of Assets

is prepared i...

Question

____________ is prepared in order to ascertain net gain or loss on revaluation of assets and liabilities and bringing unrecorded items into books

A

None of the above

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B

Appropriation account

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C

Revaluation

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D

Profit & loss appropriation account

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Solution

The correct option is C
Revaluation

Revaluation Account is prepared in order to ascertain net gain or loss on revaluation of assets and liabilities and bringing unrecorded items into books.

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