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Question Practice

What is the result when an asset is sold for cash greater than its book value?

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

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Recording of Transactions - I
Question Bank

What is the result when an ass...

Single Answer MCQ
Q-00053920

What is the result when an asset is sold for cash greater than its book value?

1

Capital remains unchanged

2

Assets exceed liabilities

3

Liabilities increase

4

The accounting equation remains balanced

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