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Depreciation — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountDepreciation1 Mark
Question
What is meant by Asset Disposal Account?
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Answer

Asset Disposal Account means that the cost of the asset and also the provision for depreciation is transferred to the account at the time of its sale (disposal). The sale proceeds are credited to the account and gain (profit) or loss on sale on its disposal is determined.

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