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Create an image of a classroom setting with students studying accounting concepts, with charts and balance sheets on the walls and a teacher explaining revaluation accounting on a whiteboard.

Revaluation Accounting Quiz

Test your knowledge on revaluation accounting with our engaging quiz! This quiz is designed for accounting students and professionals looking to reinforce their understanding of revaluation principles.

You'll encounter questions on:

Loss on revaluation
Effects of changes in asset values
Nominal accounts

11 Questions3 MinutesCreated by CalculatingFox57

Loss on revaluation a/c shows

Debit balance

Credit balance

Increase in value of building leads to which balance in revaluation a/c

Debit balance

Credit balance

Increase in value of liabilities leads to which balance in revaluation a/c

Debit balance

Credit balance

Profit on revaluation a/c shows

debit balance

Credit balance

Unrecorded investment shows which balance in revaluation revaluation a/c

Debit balance

Credit balance

Decrease in value of liabilities leads to which balance in revaluation a/c

Debit balance

Credit balance

Decrease in value of machinery leads to which balance in revaluation a/c

Debit balance

Credit balance

Nominal a/c is a

Real a/c

Personal a/c

Nominal a/c

Unrecorded liability leads to which balance is revaluation a/c

Debit balance

Credit balance

On retirement of a partner ,general reserve is transferred to

Capital a/c of all the partners

Revaluation a/c

Capital a/c of the continuing partners

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