Question Practice

Which entry is made when transferring a loss on asset disposal to the profit and loss account?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA

Single Answer MCQ

Q-00054311

Asset A/c Dr. to Profit and Loss A/c

Profit and Loss A/c Dr. to Asset A/c

Provision for Depreciation A/c Dr. to Asset A/c

Bank A/c Dr. to Asset A/c

Video Explanation

Watch Video Solution

Keep Practising

Students who asked this also explored

Continue with nearby questions to strengthen the same chapter concept while you still have the context fresh in mind.

Q1.

What is depreciation?

Q2.

Which method calculates depreciation as a fixed percentage of the book value each year?

Q3.

What factor does NOT affect the calculation of depreciation?

Q4.

What is the salvage value in relation to depreciation?