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Required ( a ) Identify and explain the market that Membina should use to measure the fair value of its tower crane. Support your answer
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a Identify and explain the market that Membina should use to measure the fair value of its tower crane. Support
your answer with a specific reference from the relevant accounting standard.
b Using the fair value information in the Melbourne market, prepare the journal entryentries to record the
revaluation of the tower crane at June Show all workings.
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