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The cost of the asset purchased on 1st April, 2008 was Rs.24, 000. the depreciation was provided at 10% on Straight Line Method. The asset was sold on 31st Jan, 2009 for Rs.18, 000. Which of the following statements is/are true?
Options:
A .  Depreciation provided for the year was Rs.2,400
B .  Loss on the sale of asset was Rs.4,000
C .  No depreciation will be provided
D .  Both (a) and (b)
Answer: Option B


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