Question

BALANCE IN REVALUATION ACCOUNT IS CONSIDERED AS PROFIT/LOSS.... *
1 point
TRUE
FALSE​

Answer 1

Answer:

Credit balance is referred to as profit on revaluation in the Revaluation Account. ... The Revaluation Account credit balance reflects the total losses on the asset and the liability revaluation.

Explanation:

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Answer 2

Answer:

TRUE, BALANCE IN REVALUATION ACCOUNT IS CONSIDERED AS PROFIT &LOSS

Explanation:

Revaluation Account is otherwise called Profit and Loss Adjustment Account. This record is credited with all expansions in the worth of resources and lessening in the worth of liabilities. This record is charged with decline in The of worth of resources and expansion in the worth of liabilities.

The project code is #SPJ3