Question
Revaluation Account is
a:Â ÂSolution
Revaluation Account records profits or losses arising from the revaluation of assets and liabilities, typically at the time of admission, retirement, or death of a partner, or change in profit-sharing ratio. Since it records gains and losses, it is a Nominal Account.
Sale of Rs.50,000 to ‘A’ was entered as a sale to ‘B’. This is an example of –Â
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The process by which market participants try to find an equilibrium price?Â
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