In the above question if the depreciation is charged @10% on written down value method, find the profit or loss on sale of the Second hand car.
A) Loss of ` 20,000 .
B) Loss of ` 22,000 .
C) Loss of ` 11,000 .
D) Profit of ` 11,000
Correct Answer:
Verified
Q1: Provision is created for -
A)Unknown Liabilities .
B)Known
Q2: Which of the following is not a
Q3: A second hand car is purchased for
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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