Question

Revaluation account is a nominal account (true / false)

Answer 1

Revaluation account is a nominal aaccount

Answer 2

Answer:

Explanation:

Realisation and revaluation accounts are Nominal accounts. For a nominal account it should be either a expense, income, loss or gain. In the realisation account we calculate profit or loss on sale of assets and payment of liabilities. ... For a nominal account it should be either a expense, income, loss or gain.