Accountancy, asked by chauhanbhawna8894, 9 months ago

What is a memorandum revaluation account

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Answered by NeverMind11

Answer:

Memorandum Revaluation Account is when new assets and liabilities are added to the new balance sheet in the older form of assets and liabilities. ... The purpose of this account is to: (i) Record the change in the value of assets and liabilities of the firm.

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