alleryStart learning →Carrying amount Rs 1,50,000, net sale price Rs 1,80,000. The Rs 30,000 difference goes to:
Acapital reserve
Bprofit and loss
Cother investments
Dgeneral reserve
Answer & Solution
Correct answer: B. profit and loss
The 30,000 gap between net proceeds and carrying amount is recognised in the profit and loss statement.
Keep practising AS 13 Accounting for Investments
Browse all AS 13 Accounting for Investments questions for CA Inter, or explore more Accounting topics.
Related questions
Profits on disposal of current and long-term investments are shown:Statements classify fixed assets, investments and current assets into:A readily realisable investment is meant to be held for 18 months. It is:A readily realisable investment made on 1 April is intended to be sold on 15 February nextIf dividend cannot be allocated except arbitrarily, cost is cut only if it:Interest and rentals on investments are shown separately for:A significant restriction on selling an investment must be:Disclosure of investments must include the policies for determining: