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Question
A loss is a capital loss because ______.
Options
It relates to fixed assets.
It arises due to abnormal reasons.
It involves withdrawl of capital.
MCQ
Fill in the Blanks
Solution
A loss is a capital loss because it relates to fixed assets.
Explanation:
Capital losses are the losses which are not related with the normal course of business. It is mostly related to the fixed assets.
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Meaning of Capital Loss and Revenue Loss
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Chapter 6: Capital and Revenue Expenditure/Income - EXERCISES [Page 83]
