1541. The revenue profit should be transferred to :

A. Balance sheet
B. Trading account *
C. Profit and loss account
D. None of these

1542. If an asset , whose book value is 6000 $ on the date of sale it is sold for 8000 $ the capital profit is :

A. 6000
B. 8000
C. 4000
D. 2000 *

1543. The loss suffered by a business on the sale of a fixed asset is regarded as :

A. Capital loss *
B. Revenue loss
C. Ordinary loss
D. Regular loss

1544. The loss suffered by the business in the ordinary course or day to day operation is regarded as :

A. Capital loss
B. Revenue loss *
C. Non recurring loss
D. Long term loss

1545. The loss incurred on raising capital of joint stock company is regarded as :

A. Recurring loss
B. Revenue loss
C. Capital loss *
D. Ordinary loss

1546. Capital loss my be shown in :

A. Trading statement
B. Income statement *
C. Cash statement
D. Balance sheet

1547. Revenue losses are shown in :

A. Trading account
B. Profit and loss account *
C. Balance sheet
D. None of these

1548. If a building having book value of 60000 $ and is sold for 45000 $ the capital loss is :

A. 10000
B. 20000
C. 30000
D. 15000 *

1549. The amount which is actually paid on account of a capital expenditure is :

A. Capital payment *
B. Revenue payment
C. Capital loss
D. Capital expenditure

1550. An amount which is actually paid on the account of some revenue expenditure is :

A. Capital payment
B. Revenue payment *
C. Revenue loss
D. Capital expenditure