Profit and loss is calculated at the stage of HomeFinancial Accounting MCQsProfit and loss is calculated at the stage ofQ. Profit and loss is calculated at the stage ofA. SummarisingB. RecordingC. PostingD. ClassifyingAnswer: Summarising
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