Profit on sale of fixed asset is a/an .

Operating income

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Non-operating expense

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Operating expense

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Non-operating income

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Solution

The correct option is D Non-operating income
Profit on sale of fixed asset is a non-operating income for the business entity as it does not happen regularly.

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Similar questions

Profit on sale of fixed assets is __________.

Under which head the following items of a non-financial company will be shown :

(i) Sales (ii) Sale of Scrap (iii) Dividend received (iv) Interest earned (v) Profit on sale of fixed asset and (vi) Profit on sale of investments.

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