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The sale of price has resulted in A- gain of380000 B- loss of380000 C- gain of300000 D- loss of300000
The answer is not given in the options. The correct answer is as given below :
5,00,000(-)1,20,000=3,80,000 which is the book value at the time of sale. The actual sale price is2,00,000. The difference between the book value and sale price is the profit and loss, which in this case is1,80,000 which is loss on the sale of the Asset.
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