if an asset is revalued at lower cost than its original value-13322
if an asset is revalued at lower cost than its original value, the balance amount will be treated as loss on revaluation of fixed assets and it is shown in the __________ account of that year in which asset was revalued.
This multiple choice question (MCQ) is related to the book/course
vu mgt101 Financial Accounting.
It can also be found in
vu mgt101 Lecture No.21 - Quiz No.1.
if an asset is revalued at lower cost than its original value, the balance amount will be treated as loss on revaluation of fixed assets and it is shown in the __________ account of that year in which asset was revalued.
Budget Account
profit & loss account
Revaluation Reserve Account
None of the given
