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Read the following information and answer the given questions:
X Ltd. made a profit of ₹ 5,00,000 after consideration of the following items :
(i) Goodwill written off 5,000
(ii) Depreciation on Fixed Tangible Assets 50,000
(iii) Loss on Sale of Fixed Tangible Assets (Machinery) 20,000
(iv) Provision for Doubtful Debts 10,000
(v) Gain on Sale of Fixed Tangible Assets (Land) 7,500
Additional information :
Q. Which of the following items will adjust to Net Profit before Tax?
  • a)
    Trade Receivables
  • b)
    Prepaid Expenses
  • c)
    Loss on sale of Fixed Asset
  • d)
    Expenses Payable
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Read the following information and answer the given questions:X Ltd. ...
It is a non-operating item. Non-operating income is the portion of an organization's income that is derived from activities not related to its core business operations. It can include items such as dividend income, profits, or losses from investments, as well as gains or losses incurred by foreign exchange and asset write-downs.
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Read the following information and answer the given questions:X Ltd. made a profit of ₹ 5,00,000 after consideration of the following items :₹(i) Goodwill written off 5,000(ii) Depreciation on Fixed Tangible Assets 50,000(iii) Loss on Sale of Fixed Tangible Assets (Machinery) 20,000(iv) Provision for Doubtful Debts 10,000(v) Gain on Sale of Fixed Tangible Assets (Land) 7,500Additional information :Q. Which of the following items will adjust to Net Profit before Tax?a)Trade Receivablesb)Prepaid Expensesc)Loss on sale of Fixed Assetd)Expenses PayableCorrect answer is option 'C'. Can you explain this answer?
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Read the following information and answer the given questions:X Ltd. made a profit of ₹ 5,00,000 after consideration of the following items :₹(i) Goodwill written off 5,000(ii) Depreciation on Fixed Tangible Assets 50,000(iii) Loss on Sale of Fixed Tangible Assets (Machinery) 20,000(iv) Provision for Doubtful Debts 10,000(v) Gain on Sale of Fixed Tangible Assets (Land) 7,500Additional information :Q. Which of the following items will adjust to Net Profit before Tax?a)Trade Receivablesb)Prepaid Expensesc)Loss on sale of Fixed Assetd)Expenses PayableCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the following information and answer the given questions:X Ltd. made a profit of ₹ 5,00,000 after consideration of the following items :₹(i) Goodwill written off 5,000(ii) Depreciation on Fixed Tangible Assets 50,000(iii) Loss on Sale of Fixed Tangible Assets (Machinery) 20,000(iv) Provision for Doubtful Debts 10,000(v) Gain on Sale of Fixed Tangible Assets (Land) 7,500Additional information :Q. Which of the following items will adjust to Net Profit before Tax?a)Trade Receivablesb)Prepaid Expensesc)Loss on sale of Fixed Assetd)Expenses PayableCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following information and answer the given questions:X Ltd. made a profit of ₹ 5,00,000 after consideration of the following items :₹(i) Goodwill written off 5,000(ii) Depreciation on Fixed Tangible Assets 50,000(iii) Loss on Sale of Fixed Tangible Assets (Machinery) 20,000(iv) Provision for Doubtful Debts 10,000(v) Gain on Sale of Fixed Tangible Assets (Land) 7,500Additional information :Q. Which of the following items will adjust to Net Profit before Tax?a)Trade Receivablesb)Prepaid Expensesc)Loss on sale of Fixed Assetd)Expenses PayableCorrect answer is option 'C'. Can you explain this answer?.
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