1.

Assertion (A): Increase in value of assets and decrease in amount of liabilities are credited to revaluation account. Reason (R): Revaluation is a nominal account. a. Both A and R are correct and R is the correct explanation of A.b. Both A and R are correct but R is not the correct explanation of A. c. A is correct but R is wrong d. A is wrong but R is correct

Answer»

a. Both A and R are correct and R is the correct explanation of A.



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