Advanced AccountingMCQQuestion 5897 of 302
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3. What will be the impact of test of impairment on Profit & Loss Account of the company?

Select Your Answer (Keyboard: A, B, C, D)
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Correct Answer

✅ Option A — Impairment loss of ₹ 4,00,000 to be debited to Profit & Loss A/c.

All Options:

  • AImpairment loss of ₹ 4,00,000 to be debited to Profit & Loss A/c. ✓
  • BImpairment loss of ₹ 4,25,000 to be debited to Profit & Loss A/c.
  • CImpairment loss of ₹ 6,25,000 to be debited to Profit & Loss A/c.
  • DImpairment loss of ₹ 15,25,000 to be debited to Profit & Loss A/c.

Detailed Solution & Explanation

Correct Answer: Option **A** Explanation: As per the official suggested answer, option **A** is correct. Hence, **Option A** is the correct answer.

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