Write a word / term / phrase which can substitute the statement: Debit balance of revaluation account.
Q.1 (C) (1) Write a word / term / phrase which can substitute the statement: Debit balance of revaluation account.
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Answer: Loss on revaluation
When the debit side (decreases in assets, increases in liabilities) is more than the credit side, the balance of the Revaluation Account is a loss, shared by the partners in their old ratio.
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· 28 Oct 2026
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