A loss made on the disposal of a fixed assets is debited to

Accounts - Principles of Accounts

WAEC 2012

A. sales account
B. purchases account
C. profit and loss account
D. capital account

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Correct Answer: Option C

Explanation

Loss on sale; Debit cash for the amount received, debit all accumulated depreciation, debit the loss on sale of asset account, and credit the fixed asset

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A loss made on the disposal of a fixed assets is debited to

Correct Answer: Option C

Explanation

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