Multiple Choice
Grigor purchased a freehold building for use in his business on 1 February 20X1 for £235 000.He estimated a useful life of 100 years for the building, with no residual value.On 1 February 20X6 he sold the building for £247 000.What was his profit or loss on sale?
A) £11 750 loss
B) £23 750 profit
C) £23 750 loss
D) £11 750 profit
Correct Answer:
Verified
Correct Answer:
Verified
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