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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

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 31 December 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 profit O b. OMR 500 loss c. OMR 1000 loss d. None of the given options

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