Question on: SS2 Accounting - Revaluation of Assets
What is the purpose of asset revaluation?
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A
To overstate the value of an asset on a company's balance sheet
B
To understate the value of an asset on a company's balance sheet
C
To accurately represent the value of an asset on a company's balance sheet
D
To avoid paying taxes on the value of an asset
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Correct Option: C
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