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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 2 · Set 3 · Q5
On the reconstitution of a firm, the value of the land was appreciated by ₹ 2,00,000 and plant and machinery reduced to ₹ 7,00,000 from ₹ 10,00,000.…
On the reconstitution of a firm, the value of the land was appreciated by ₹ $\displaystyle 2,00,000$ and plant and machinery reduced to ₹ $\displaystyle 7,00,000$ from ₹ $\displaystyle 10,00$,000. Gain or loss on revaluation will be :
Official answer
(B)
Loss ₹ $\displaystyle 1,00,000$
Marking-scheme solution
(b)
Loss ₹$\displaystyle 1,00,000$
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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.