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.

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.

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..

Answer / rahmath

revaluation is done for reassesment of foreign currency
denominated as account receivable and accounts payble.

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