CBSE BOARD XII, asked by sahilsingh61531, 1 month ago

format of revaluation account

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Answered by tanya3534

1

Answer:

Revaluation account is also called Profit and loss adjustment account. It is a nominal account. Revaluation account is credited with increase in value of assets and decrease in the value of liabilities. It is debited with decrease in value of assets and increase in the value of liabilities.

Explanation:

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