Question

If an asset is appreciated, Revaluation Account is _ _ _ _ _ .



Debited

Credited

Depreciated

Neutralised


please give me correct answer​

Answer 1

Answer:

If an asset is appreciated, Revaluation Account is Credited

Answer 2

If an asset is appreciated, Revaluation Account is credited.

• A revaluation account is created to show the revised value of assets and liabilities of a business as per their fair market value.
• On calculating the net gain or loss, an increase in the value of assets and a decrease in the value of liabilities is credited to this account.
• It is because it's a nominal account in which all the incomes and gains are credited.