Скачать или смотреть Revaluation account | Partnership Accounting for class 12

Revaluation account is opened by the firm to record the gains and losses arising from revaluation of assets and reassessment of liabilities at the time of reconstitution of the firm. Hence, the output is either a profit or a loss, so it is a nominal account.
knowing this account can award to 2+2 marks in Board Examination.

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