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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 2 · Set 1 · Q5
On the reconstitution of a firm the value of furniture increased from ₹ 7,00,000 to ₹ 8,00,000 and stock reduced to ₹ 4,00,000 from ₹ 4,20,000. Gain…
On the reconstitution of a firm the value of furniture increased from ₹ $\displaystyle 7,00,000$ to ₹ $\displaystyle 8,00,000$ and stock reduced to ₹ $\displaystyle 4,00,000$ from ₹ $\displaystyle 4,20$,000. Gain or loss on revaluation will be :
Official answer
(A)
Gain ₹ $\displaystyle 80,000$
Marking-scheme solution
(a)
Gain ₹$\displaystyle 80,000$
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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.