Complete the sentence: Revaluation Account is also known as _____ Account.
Q.1 (C) (iv) Complete the sentence: Revaluation Account is also known as _____ Account.
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Answer: Profit and Loss Adjustment
The account in which increases and decreases in the values of assets and liabilities are recorded on reconstitution of a firm is called Revaluation Account or Profit and Loss Adjustment Account.
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· 28 Oct 2026
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