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Accountancy · 2024 · 1 mark
CBSE 2024 · Region 2 · Set 3 · Q2
At the time of dissolution of a firm, the total assets were ₹ 6,00,000 and outside liabilities were ₹ 2,40,000. If assets realised ₹ 7,20,000 and…
At the time of dissolution of a firm, the total assets were ₹ $\displaystyle 6,00,000$ and outside liabilities were ₹ $\displaystyle 2,40$,000. If assets realised ₹ $\displaystyle 7,20,000$ and realisation expenses of ₹ $\displaystyle 8,000$ were paid, the profit or loss on realisation will be :
Official answer
(D)
Profit ₹ $\displaystyle 1,12,000$
Marking-scheme solution
(D)
Profit ₹$\displaystyle 1,12,000$
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.