Question : After revaluation is done, Assets and liabilities will appear in balance sheet at
Option 1: New values
Option 2: Old values
Option 3: Cost
Option 4: None of the above
Answer (1)
24th Jan, 2024
Correct Answer: New values
Solution : Answer = New values
After revaluation, assets and liabilities are adjusted to their new values in the balance sheet. This reflects the updated worth of the assets and liabilities based on their current market values. Revaluation ensures that the balance sheet presents a more accurate picture of the company's financial position.
Hence, the correct option is 1.
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