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If Revaluation Account has only asset increase ₹4000 and liability increase ₹1500 then what is the net result?

Answer and explanation

Correct answer: ₹2500 profit

Asset increase is gain ₹4000 and liability increase is loss ₹1500 so net profit is ₹2500. Subtract losses from gains.

Related tags

NumericalMixed-ItemsNet-ProfitAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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