A second hand car is purchased for ` 2,00,000 and sold at ` 1,40,000 after two years. If depreciation is charged @ 10% on SLM method, find the profit or loss on sale of the car.
A) 20,000 Loss .
B) 20,000 Profit .
C) 10,000 Loss .
D) 10,000 Profit
Correct Answer:
Verified
Q1: Provision is created for -
A)Unknown Liabilities .
B)Known
Q2: Which of the following is not a
Q4: In the above question if the depreciation
Q5: Which of the following is true with
Q6: Which of the following statements best describes
Q7: The main objective of providing depreciation is
Q8: The portion of the acquisition cost of
Q9: Which of the following statements is true
Q10: The accounting process of gradually converting the
Q11: Which of the following factors are primarily
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