Question

The account which shows revaluation of assets & liabilities. Answer in a word / phrase / term.

Answer 1

Hey mate ✌️✌️

The account which shows revaluation of assets & liabilities⤵️⤵️⤵️


Profit and loss account in trial balance.

Answer 2

Answer:

As per the question

Account which shows revaluation of assets & liabilities

The term revaluation simply means '' to determine the value of assets and liabilities again

In the preparation of revaluation account there are only two possibilities. it will be either profit or loss

Profit indicates excess of credit side over the debit side it will be shown at debit side of revaluation account.Loss indicates excess of debit side over the credit side will be shown at credit side of revaluation account