Question

debit balance of revalution account means revaluation loss (state true and false) ​

Answer 1

Answer:

loss

Step-by-step explanation:

Revaluation Account is Nominal In nature. Debit Balance of such nature is considered as Loss on Revaluation and Credit Balance as Profit on revaluation.

Answer 2

The debit balance of the revaluation account indicates that the revaluation loss is true.

As per the question given,  

Debit balance of revalution account means revaluation loss (state true and false) ​

The answer is True. Debit balance of revalution account means revaluation loss in accounting.

In accounting, a revaluation account is created to record changes in the value of assets or liabilities. When the value of an asset decreases, a revaluation loss occurs, and it is debited to the revaluation account. If the balance of the revaluation account is a debit balance, it indicates that there is a revaluation loss, meaning that the assets have decreased in value. Therefore, a debit balance in the revaluation account indicates a revaluation loss.

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