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Revaluation account is normally not credited with which of the following items: Increase in the value of assets Decrease in the value of assets Unrecorded assets now recorded Decrease in the amount of liabilities

Revaluation account is normally not credited with which of the following items: Increase in the value of assets Decrease in the value of assets Unrecorded assets now recorded Decrease in the amount of liabilities

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Revaluation account is normally not credited with which of the following items: Increase in the value of assets Decrease in the value of assets Unrecorded assets now recorded Decrease in the amount of liabilities
Transcribed Image Text:Revaluation account is normally not credited with which of the following items: Increase in the value of assets Decrease in the value of assets Unrecorded assets now recorded Decrease in the amount of liabilities
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