Assume that Bilal company purchased an asset for OMR 10000 on 1 Jan 2014. The company charging OMR 2000 depreciation per annum by following straight-line depreciation method. The company charged total depreciation till 31December 2016 is OMR 6000 and the company decided to sell this asset for OMR 3000 on 31st Mar2017. Calculate the gain or loss on sale of asset. a. OMR 500 loss b. None of the given options C. OMR 1000 loss d. OMR 500 profit

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A:

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Q: am.106.

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Q: None

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A:

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.