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Under ifrs there exists an account referred to as the

Under IFRS, there exists an account referred to as the “revaluation surplus” account.

a. What type of account is this and what is it used for?

b. Is the normal account balance for this account a debit or credit? Can the account ever carry a balance that is not the normal account balance?

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Financial Accounting: Under ifrs there exists an account referred to as the

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Financial Accounting: Under ifrs there exists an account referred to as the

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