Question

Revaluation account is _______ account .​

Answer 1

Answer:

Revaluation account is a nominal account.

Explanation:

Revaluation account is a nominal account prepared for the purpose of distributing and transferring the profit or loss arising out of increase or decrease in the book value of assets and/ or liabilities of the partnership firm at the time of Change in profit sharing ratio, admission of a partner, retirement of a partner as well as at the time of death of partner.

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Answer 2

Nominal account

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