Question

Excess of credit side over the debit side in Revaluation Account is –
(A) Profit
(B) Loss
(C) Debt
(D) Expenses

Answer 1

Answer:

Excess of credit side over the debit side in Revaluation Account is –

(A) Profit

Answer 2

option (A)

Profit

Explanation:

Revaluation Account is a nominal account . It is also known as Profit & Loss Adjustment Account. It is prepared to record the re-valued figure of assets and liabilities at the time of change in profit sharing ratio among the existing partners.

Excess of credit side over the debit side in Revaluation Account is  Profit

which will be transferred to the credit side of the old partners Capitals Account

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