Accountancy, asked by illenaparker8717, 1 year ago

Profit made on the sale of an asset is what type of profit

Answers

Answered by Anonymous

It can be treated as a NON CASH Profit.

Answered by pushpr351

Answer:

please thanks My answer ❤️

capital profit

Selling of fixed assets is an abnormal activity, not a business activity. hence profit arising out of sale of assets is a capital profit, This has to be recorded in profit & loss account as an exceptional item.

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