A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?

✅ D. Advance payments made to suppliers for raw materials

Option A : Finished goods Option B : Work-in-process Option C : Stores and spares Option D : Advance payments made to suppliers for raw materials Correct Answer : Advance payments made to suppliers for raw materials Read more

✅ C. Discounted present value Method

Option A : Straight line Method Option B : Written down value Method Option C : Discounted present value Method Option D : Sum of digits Method Correct Answer : Discounted present value Method Read more

✅ B. Prepaid expenses

Option A : Bank Option B : Prepaid expenses Option C : Accounts receivable Option D : Creditor Correct Answer : Prepaid expenses Read more

✅ E. All of these

Option A : Stock at the end of the financial year Option B : Stock at the beginning of the financial year Option C : Drawings Option D : Prepaid Rent & Interest received but not yet earned Correct Answer : All of these Read more

✅ B. Sunk cost

Option A : Uncontrollable cost Option B : Sunk cost Option C : Avoidable cost Option D : Opportunity cost Correct Answer : Sunk cost Read more

✅ B. T

Option A : I Option B : T Option C : H Option D : None Correct Answer : T Read more

✅ A. Outstanding Salary A/c

Option A : Outstanding Salary A/c Option B : Rent A/c Option C : SBI A/c Option D : Bad debts A/c Correct Answer : Outstanding Salary A/c Read more

✅ B. Credit

Option A : Debit Option B : Credit Option C : Expenses Option D : Liability Correct Answer : Credit Read more