alleryStart learning →Plant costing Rs 80,000 with depreciation of Rs 60,000 is sold for Rs 20,000. The gain or loss is
ANo gain or loss
BGain of Rs 20,000
CGain of Rs 40,000
DLoss of Rs 20,000
Answer & Solution
Correct answer: A. No gain or loss
Book value is 80000 - 60000 = 20000, equal to the sale price, so there is neither gain nor loss.
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