alleryStart learning →A plot held for sale is acquired with fair value Rs 50 lakh and selling costs Rs 4 lakh. Recognised amount?
ARs 54 lakh
BRs 50 lakh
CRs 46 lakh
DRs 4 lakh
Answer & Solution
Correct answer: C. Rs 46 lakh
Fair value less costs to sell is 50 minus 4, which gives Rs 46 lakh.
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