CA CPT Model Test Paper 5 with solutions for online practice

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Question : 49 of 200

Marks: +1, -0

Goods costing Rs.10,000 destroyed by an accident. Insurance Co. paid 80%.

Rs. 10,000 will be credited to joint venture A/c.
No entry will be made in the books of joint venture.
Rs. 10,000 will be debited in joint venture Account as Loss
Rs. 8,000 will be credited to joint venture A/c.

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