alleryStart learning →A current investment of cost 60,000 written down to 52,000 is sold for net 58,000. Result?
ANo profit or loss
BLoss of Rs 2,000
CProfit of Rs 6,000
DProfit of Rs 8,000
Answer & Solution
Correct answer: C. Profit of Rs 6,000
The result is measured against the carrying amount of 52,000, so net proceeds of 58,000 give a profit of 6,000.
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