Accounting for IGCSE & O level - Accounting Procedures (Section 6 - No. 28)
What does a revaluation do for an asset?
It increase the asset’s value.
It decreases the asset’s value.
It updates the asset’s value to fair value.
All of the above.
Explanation
A revaluation updates the assets value based on the market or other factors that could impact the asset value.
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