Multiple Choice
A machine is purchased at a cost of Rs. 5,00,000. Its useful life is 5 years with a scrap value of Rs. 50,000. It is sold for Rs. 40,000 at the end of 5 years. The profit or loss on the sale would be:
A) Profit Rs. 15,000
B) Loss Rs. 5,000
C) No Profit no Loss
D) Loss of Rs. 1,000
Correct Answer:
Verified
Correct Answer:
Verified
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