![Mcqmate logo](https://mcqmate.com/public/images/logos/logo-black.png)
![Mcqmate logo](https://mcqmate.com/public/images/logos/logo-white.png)
McqMate
Q. |
A machine is purchased at a cost of Rs. 5,00,000. Its useful life is 5 years with a scrap value of Rs. 50,000. It is sold for Rs. 40,000 at the end of 5 years. The profit or loss on the sale would be: |
A. | Profit Rs. 15,000 |
B. | Loss Rs. 5,000 |
C. | No Profit no Loss |
D. | Loss of Rs. 1,000 |
Answer» D. Loss of Rs. 1,000 |
View all MCQs in
Financial AccountingNo comments yet