Multiple Choice
Exe Limited acquired plant and machinery for use in its business at a cost of £50,000 two years ago. The plant and machinery was estimated to have a residual value of £10,000 and an estimated useful life of 5 years. The plant and machinery has been depreciated on the straight line basis. At the end of 2 years the plant and machinery was sold and a loss of £4,000 was made on the sale. What is the cash inflow from the sale of the plant and machinery that will be recorded under cash flows from investing activities?
A) £22,000
B) £26,000
C) £30,000
D) £38,000
Correct Answer:

Verified
Correct Answer:
Verified
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