Fixed assets are held by business for HomeFinancial Accounting MCQsFixed assets are held by business forQ. Fixed assets are held by business forA. Generating revenueB. Converting into cashC. ResaleD. None of the aboveAnswer: Generating revenue
Rohit carrying on real estate business sold a piece of land for Rs.4,00,00,000 (cost Rs.3,50,00,000) then the type of receipt is nature and profit on sale is