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What is ment by asset revaluation?
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Answer / jagannadharao
Revaluation of the assets according to the prevailing
market value is called asset revaluation. the excess value
will be credited to revaluation reserve account.
| Is This Answer Correct ? | 19 Yes | 4 No |
Answer / raghuka
Revaluation is the process wherein the value of Asset is
increased or decreased, and offset value is credited or
debited to revalution reserve account.
| Is This Answer Correct ? | 14 Yes | 4 No |
Answer / shalika prabha kumari.
Revaluation must be done when their's a difference between carrying value and fair value of the asset. Adjustment of carrying value of the asset to the present market value is called revaluation..
| Is This Answer Correct ? | 2 Yes | 0 No |
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