Question

What is profit or loss revaluation?​

Answer 1

Revaluation

Used to adjust the book value of a fixed asset to its current market value. If a revaluation results in a decrease in the carrying amount of a fixed asset, recognize the decrease in profit or loss.

Answer 2

Revaluation is used to adjust the book value of a fixed asset to its current market value. ... If a revaluation results in a decrease in the carrying amount of a fixed asset, recognize the decrease in profit or loss