Economy, asked by nishanthsai76, 8 months ago

effect on loss of re possessed goods​

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Answered by vijvij1054
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Answer:

In that case, the loss on surrender is taken as the difference between written-down value of the asset (i.e., after charging vendor's rate of depreciation) and the written-down value of the assets (after charging purchaser's rate of depreciation) which is ultimately transferred to Profit & Loss Account.

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