Explain the Revaluation Account?
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a revolution in a successful attempt by a large group of people to change the political system of their country by force the periods will the revolution has been one of the political termoil
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◆Its an account prepared for revaluation of assets and reassessment of liabilities.
◆The values of all of a firm's assets must be recognized and documented in their accounts. ... When an asset increases in value, a revaluation is necessary.
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