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What is meant by revaluation account?

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What is meant by revaluation account?

Posted by Sandeep Gupta 8 years, 2 months ago

CBSE > Class 12 > Accountancy

3 answers

Mimansha Rawat 8 years, 2 months ago

The account showing revaluation of assets and reasesment of liabilities is Known as revaluation account

Geet Bathla 8 years, 2 months ago

If any kind of asset increase and liab decreases it will come under credit side whereas if any asset Dec and liab Inc it will come under debit side of reval acc

Ritu Rajak 8 years, 2 months ago

Assest are revalued and liabilities are reassessed at the time of change in profit sharing ratio and gain (profit) or loss arising from it is credited or debited to partners capital accounts in their old profit sharing ratio...

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Srishti Arya 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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