Use the following information to answer this question
A fixed asset was bought for #60,000 on 1st January, 1997. Depreciation was provided at 10% on cost. It was sold for #16,000 on 30th June, 2001.
The profit or loss sale was
a
17,000 loss
b
#16,000 loss
c
#17,000 profit
d
#16,000 profit
Explanation
Correct Option
a
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