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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If trademark is recorded for the first time at ₹12000 then on which side of Revaluation Account will it go?

Answer and explanation

Correct answer: Credit side

Trademark is an unrecorded asset so it is a gain. Unrecorded intangible asset is also credited.

Related tags

Trademark Unrecorded-Asset Credit-Side Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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