An asset with a carrying amount of ₹2,00,000 is sold for ₹1,60,000 The resulting loss is:

Type: MCQ • Marks: 1

A. 20000

B. 30000

C. 40000

D. 60000

Explanation

Loss = Carrying amount − Sale proceeds = ₹2,00,000 − ₹1,60,000 = ₹40,000.

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UPSC Principal & Vice Principal Management Finance Administration

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