Question

Revaluation Account is alike a

(A) Profit and Loss Adjustment A/c

(B) Profit and Loss A/c

(C) Trading A/c 

(D) Realisation A/c

Answer 1

Correct option is: (A) Profit and Loss Adjustment A/c 

A revaluation account is an accounting tool that adjusts the value of assets and liabilities in a company's balance sheet. It is used to reflect the current market value of assets.