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If an asset value has been reduced at revaluation at what value will it appear in the new balance sheet?

Answer and explanation

Correct answer: At reduced new value

After revaluation the asset is shown at revised new value. In exams do not write the old value by mistake.

Related tags

Balance SheetRevised ValueAssetAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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