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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 4 · Set 1 · Q6
Assertion (A): Increase in the value of liabilities on reconstitution of a firm is debited to Revaluation Account. Reason (R): Increase in the value…
Assertion (A) : Increase in the value of liabilities on reconstitution of a firm is debited to Revaluation Account. Reason (R) : Increase in the value of liabilities is a loss. Select the correct alternative from the following :
Official answer
(C)
Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
Marking-scheme solution
(c)
Both Assertion (A) and Reason (R) are correct and Reason (R) is correct explanation of
Assertion (A)
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.