Select the most appropriate answer from the alternative given below an

1.	Select the most appropriate answer from the alternative given below and rewrite the sentence.Account is debited when unrecorded liability is brought into business.OptionsLiabilityRevaluationCapitalCurrent
Answer» Revaluation Account is debited when unrecorded liability is brought into business. Explanation: The Revaluation Account is debited when unrecorded liability is brought into business. An unrecorded liability is one which was earlier omitted from the records and is now being considered (i.e. recorded). This leads to increase in the amount of liabilities and so, the Revaluation Account is debited.

Select the most appropriate answer from the alternative given below and rewrite the sentence.Account is debited when unrecorded liability is brought into business.OptionsLiabilityRevaluationCapitalCurrent

Answer»

Revaluation Account is debited when unrecorded liability is brought into business.

Explanation: The Revaluation Account is debited when unrecorded liability is brought into business. An unrecorded liability is one which was earlier omitted from the records and is now being considered (i.e. recorded). This leads to increase in the amount of liabilities and so, the Revaluation Account is debited.

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Select the most appropriate answer from the alternative given below and rewrite the sentence.Account is debited when unrecorded liability is brought into business.OptionsLiabilityRevaluationCapitalCurrent

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