Phoebe Bought a Laptop Computer for Her Business That Cost

Multiple Choice

Phoebe bought a laptop computer for her business that cost £2,000 and it has a net book value of £1,200 after one year. If she sells the laptop for £700 at that time, the profit / (loss) on disposal would be:

A) The profit on disposal would be £500.
B) The profit on disposal would be £1,300.
C) The loss on disposal would be £500.
D) The loss on disposal would be £1,300.