alleryStart learning →P pays Rs 600 lakh for net assets worth Rs 750 lakh (no NCI). Capital reserve?
ARs 600 lakh
BRs 750 lakh
CRs 150 lakh
DRs 1,350 lakh
Answer & Solution
Correct answer: C. Rs 150 lakh
The excess of net assets 750 over consideration 600 is Rs 150 lakh, accumulated as capital reserve after reassessment.
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