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As per physical capital maintenance, the profit earned by the entity when a. Opening Net worth is > than closing Net worth of the entity b. Closing Net worth is > Opening Net assets of the Entity OC. Closing Productive capacity > Opening Productive capacity of the entity d. Closing Financial capacity is > Opening Productive capacity of the entity Which of the following is correct for a conceptual framework? a. Rule O b. Element c. Policy O d. Constitution Muscat Bakery LLC bought a Toyota Hiace Van for its business in July 2018. The cost of the Van is RO 12000 and the useful life is 5 years. The depreciated was provided in the accounts using Declining Balance method. The company sells the van on 31 Dec 2020 for RO 6000. The amount of Profit loss to the transferred to the Income statement will be a. RO 1728 Profit b. RO 912 Profit O C. RO 912 Loss d. RO 120 Loss