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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If provision is reduced from ₹6000 to ₹5200 then what is the gain?

Answer and explanation

Correct answer: ₹800

The reduction in provision is ₹800 so it is a gain. Credit Revaluation Account when provision decreases.

Related tags

Provision-Reduction Numerical Gain Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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