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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationEasy

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If an asset is reduced in revaluation then at what value will it appear in the final balance sheet?

Answer and explanation

Correct answer: At the reduced new value

After revaluation the asset appears at the new value in the final balance sheet. Write the adjusted value.

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Balance-Sheet Reduced-Value Asset Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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