Revaluation

Step 1: Understanding the Revaluation Account.
A Revaluation Account is a nominal account because it deals with gains or losses arising from the revaluation of assets and liabilities at the time of a partnership change.
Step 2: Conclusion.
The correct answer is nominal, as the Revaluation Account records the gains or losses of nominal nature.

Step 1: Understanding the Revaluation Account.
The Revaluation Account is used to record changes in the value of assets during a business restructuring or partnership dissolution. An increase in the value of assets is recorded on the debit side of the Revaluation Account.
Step 2: Analyzing the options.
(A) Credit side: Incorrect — The credit side of the Revaluation Account records decreases in the value of assets.
(B) Debit side: Correct — Increases in asset values are recorded on the debit side of the Revaluation Account.
(C) Not Recorded: Incorrect — Increases in asset values must be recorded in the Revaluation Account.
(D) None of these: Incorrect — The correct answer is on the debit side.
Step 3: Conclusion.
The correct answer is (B) Debit side, as increases in asset values are recorded on the debit side of the Revaluation Account.