When a part of the Fixed Assets is sold during the year, the Profit on – McqOptions

MCQOPTIONS

1.	When a part of the Fixed Assets is sold during the year, the Profit on sale is shown on the credit side of which Account?
A.	Adjusted Profit and Loss Account
B.	Profit and Loss Account
C.	Fixed Assets Accounts
D.	Liabilities Accounts
Answer» B. Profit and Loss Account

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