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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If building value increased from ₹100000 to ₹112000 then what is the net effect?

Answer and explanation

Correct answer: ₹12000 gain

Increase in building by ₹12000 is a gain. Increase in an asset like building goes to credit side.

Related tags

Building-Appreciation Numerical Gain Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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