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What is ment by asset revaluation?

Answers were Sorted based on User's Feedback

What is ment by asset revaluation?..

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

What is ment by asset revaluation?..

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

What is ment by asset revaluation?..

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

What is ment by asset revaluation?..

Answer / rahmath

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

Is This Answer Correct ?    0 Yes 10 No

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