An institution sells an asset whose carrying amount is ₹1,50,000 for ₹1,80,000 Ignoring transaction costs, the resulting...

Type: MCQ • Marks: 1

An institution sells an asset whose carrying amount is ₹1,50,000 for ₹1,80,000 Ignoring transaction costs, the resulting gain is:

A. 20000

B. 30000

C. 150000

D. 330000

Explanation

Gain = Sale proceeds − Carrying amount = ₹1,80,000 − ₹1,50,000 = ₹30,000.

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UPSC Principal & Vice Principal Management Finance Administration

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