MCQ Practice

A second hand car is purchased for 2,00,000 and sold at 1,40,000 after two years. If depreciation is charged @ 10% on written down value method, find the profit or loss on sale of the Second hand car?

Subject: AccountingTopic: Accounting
A

Loss of 20,000

B

Loss of 22,000

C

Loss of 11,000

D

Profit of 11,000Accounting & Auditing

Correct Answer: B