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Class 12 Accountancy Reconstitution - Admission of a Partner Asset RevaluationMedium

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If vehicles are reduced from ₹175000 to ₹150000 what amount will appear for vehicles in the new balance sheet?

Answer and explanation

Correct answer: ₹150000

After revaluation vehicles appear at the new reduced value. The decrease of ₹25000 is revaluation loss.

Related tags

Balance Sheet Vehicles Revised Value Asset Revaluation Reconstitution Admission Of A Partner Accountancy Class 12 Mcq

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