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A machinery was purchased on 1st January 2000 at a cost...

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Accounting
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A machinery was purchased on 1st January 2000 at a cost of Rs. 1,20,000 and was depreciated by diminishing balance method at the rate of 15% p.a. It was sold on 31st March 2002 for Rs. 80,000 what was the loss on sale of machine

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Correct Answer: Option A
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