Question

nature of revaluation account-
(class 12)​

Answer 1

Answer:

Revaluation Account is a nominal account in nature.

Revaluation account is a nominal account, which is prepared for the distribution and transfer of profits and losses arising due to the increase and decrease of the book value of assets and liabilities during change in profit sharing ratio, admission of a partner, retirement of a partner and death of a partner.

can we become friends on social media. plz

if you don't mind. I am collagian.

hope so it helps you