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Byju's Answer
Standard XII
Accountancy
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Which of the ...
Question

Which of the following account will be credited for profit on sale of fixed assets?

A
Depreciation Account
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B
Cash Account
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C
Fixed Asset Account
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D
Profit and Loss Account
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Solution

The correct option is C Profit and Loss Account
When a fixed asset is sold at a profit then the account to be credited will profit and loss account.

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Standard XII Accountancy
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