If book value of a fixed asset equals to market value or sale proceeds of a fixed asset then :
there will be gain on sale
there will be loss on sale
no loss, no gain
None of the above
If book value of a fixed asset equals to market value or sale proceeds of a fixed asset, then gain or loss on sale=0.
A fixed asset having book value of Rs 2000 was sold for Rs 1500. Which of the following is the gain or loss on the sale of fixed asset?
Gain or loss on disposal of an asset is the difference between the sale price of an asset and ___